Germany's private sector growth slowed in March from a 33-month high but the pace of expansion remained marked, preliminary survey data from Markit Economics showed Monday.
The flash composite output index dropped to 55.0 from February's 33-month high of 56.4. Nonetheless, a reading above 50 indicates expansion.
The easing in the rate of activity growth was broad-based, with both manufacturers and service providers indicating weaker expansions than seen in February.
The flash services activity index slipped more-than-expected to 54.0 from 55.9 in February. The score was forecast to fall to 55.5.
Likewise, the flash manufacturing PMI came in at 53.8, down from 54.8 in February and below the expected reading of 54.5.
"Although the rate of expansion in activity eased to a three-month low, growth in the three months to March was the joint-strongest since mid-2011," Oliver Kolodseike, economist at Markit said.
"The survey suggests we should expect another quarter of economic growth in Germany, with recent data pointing to GDP growth of up to 0.7% in the first quarter," Kolodseike added.
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