Money Market Guru — Germany services Purchasing Managers Index climbed more-than-expected to 55.6 in March from 54.4 in February, flash survey results from IHS Markit showed Friday. The services activity growth hit a 15-month high. The composite output index rose for the second straight month in March, to 57.0 from 56.1 in February. This was the highest score since May 2011.
A reading above 50 indicates expansion in the sector and the current sequence of continuous expansion now stretches to 47 months. The factory PMI climbed unexpectedly to 58.3 from 56.8 in February. The score was forecast to fall to 56.5. The March PMI survey data also signaled a near-record rate of employment growth and the strongest cost pressures for nearly six years. — Money Market Guru — Pia
Germanys Composite PMI At 70-Month High In March | Money Market Guru