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German Private Sector Expansion Slows In March

Germany's private sector expanded only at a marginal pace in March as output growth eased to a four-month low, flash data from Markit Economics showed Thursday.

The flash Composite Output Index fell to 51.4 from 53.2 in February. Manufacturers and service providers both saw moderation in activity growth to three-month lows during March.

The Purchasing Managers' Index for the service sector came in at 51.8, down from 52.8 in February. The reading was below the consensus forecast of 51.

The manufacturing PMI dropped unexpectedly to 48.1 from 50.2 in February. The expected reading was 53.1.

Tim Moore, senior economist at Markit said, "A slight stumble for Germany's private sector in March, meaning the survey is tracking a modest GDP rise of around 0.2% over the first quarter."

by RTTNews Staff Writer

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