7 Apr 2015
German services PMI in March rises to 6-month high
FXStreet (Mumbai) - The seasonally adjusted final Markit Germany Services Business Activity Index rose to 55.4 in March from February’s 54.7. The final Markit Germany Composite Output Index rose from February’s 53.8 to an eight-month high of 55.4 in March.
The rate of expansion in new business in the service sector was the strongest since last September. March data signalled a continuation of employment growth in Germany’s service sector, with the rate of job creation remaining above the long-run series trend.
Input cost inflation accelerated in March, with the latest increase in input prices the steepest since last July, leading to a rise in service charges for the second straight month.
As per Oliver Kolodseike, economist at Markit and the author of the report, “Germany’s service providers signalled a pick-up in activity growth at the end of the first quarter, with the headline index improving for the third month running. New business flooded in at the strongest rate since September of last year, with companies benefitted from an improving economic environment, which in turn encouraged them to further add to their payrolls”.
The rate of expansion in new business in the service sector was the strongest since last September. March data signalled a continuation of employment growth in Germany’s service sector, with the rate of job creation remaining above the long-run series trend.
Input cost inflation accelerated in March, with the latest increase in input prices the steepest since last July, leading to a rise in service charges for the second straight month.
As per Oliver Kolodseike, economist at Markit and the author of the report, “Germany’s service providers signalled a pick-up in activity growth at the end of the first quarter, with the headline index improving for the third month running. New business flooded in at the strongest rate since September of last year, with companies benefitted from an improving economic environment, which in turn encouraged them to further add to their payrolls”.