Highest Growth in Nearly Three Years in Germany

Growth in Germany’s private sector picked up in February to reach its highest level in nearly three years, driven by humming factories, a survey showed on Tuesday, pointing to a strong first quarter in Europe’s biggest economy.

Markit’s flash composite Purchasing Managers’ Index (PMI), rose to 56.1 from 54.8 in January. The index tracks activity in manufacturing and services, which account for more than two-thirds of the German economy.

The reading, comfortably above the 50 line that separates growth from contraction, marked a 34-month high and came in much better than the consensus forecast in a Reuters poll of 54.7.

Reuters

Dollar Bulls Get a Free Pass

EUR/USD – Euro Slips Below 1.06 Despite Stronger German, Euro Mfg. Reports

MS

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam