German Manufacturing and Services PMI up in March

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Tuesday, Mar 24 2015

Flash Germany Manufacturing PMI increased to 52.4 from 51.1 in February, what is an 8-month high and well above forecasts on incline to 51.5. March’s flash data provide further encouraging news for Germany’s private sector economy, with output and new order growth accelerating to the quickest since the summer of last year.

Flash Germany Services Activity Index rose to 55.3 in March from 54.7 in February, what is a 6-month high. Analysts were forecasting smaller incline to 55.0. An improving economic environment and stronger demand from both domestic and foreign markets were some of the reasons behind stronger growth in March, according to our panel members.

After the data, euro was pushed higher, and is currently being traded few points below 1.10 handle. Pair is likely to find support around 1.09 handle and resistance above 1.1050 area. Later today, Eurozone PMI figures are scheduled for a release.

More in this category: « French Manufacturing PMI rose in February Eurozone Services PMI at a four year high »

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