German Private Sector Expands in April

April 23, 2014 Share Print 0

Germany’s private sector expanded faster in April, recovering from a slight slowdown in growth in March, as both manufacturing and services industry activity rose more than expected, surveys showed on Wednesday.

Markit’s preliminary composite Purchasing Managers’ Index (PMI), which tracks activity in the manufacturing and services sectors and covers more than two-thirds of the euro zone’s largest economy, rose to 56.3 in April from March’s final 54.3.

April’s reading, the 12th straight month above the 50 mark denoting growth, was only one tick below February’s 56.4 – the highest figure in more than 2-1/2 years.

“This is a nice bounce back with good broadbased growth in the services and manufacturing sector… It is looking like it will be a good year for Germany,” Markit economist Chris Williamson said.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.