Private sector output in Germany expanded at the fastest pace in over six years this month, boosting optimism over the euro zone's largest economy. The preliminary German manufacturing purchasing managers’ index inched up to a 73-month high of 59.4 this month from a final reading of 58.2 in April. Analysts had expected the index to dip to 58.0 in May. The flash services purchasing managers’ index declined to 55.2 this month from 55.4 in April, disappointing expectations for a reading of 55.5.
Last modified on Tuesday, 23 May 2017Mixed French and German PMI figures
French private sector activity expanded for an eleventh consecutive month in May, boosting the economic outlook of the euro zone’s second largest economy, according to data released on Tuesday. The preliminary reading of the Markit services purchasing managers’ index rose to a six year high of 58.0 this month from 56.7 in April. Economists had forecast a reading of 56.5. The manufacturing PMI eased slightly, ticking down to 55.8, compared to expectations for 55.2 and from 55.1 a month earlier.
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