Germany’s composite PMI stood at 54.1 in March
According to Markit Economics, Germany’s composite PMI (purchasing managers’ index) stood at 54.1 in March. It’s at the same level as February. It’s above the Market expectation of 53.9. The composite PMI index tracks the business trends or performance of both the service and manufacturing sectors. This index includes the performance of the company’s sales, new orders, inventories, and employment. A reading above 50 indicates expansion in business activity and a reading below 50 indicates that it’s declining. In the March PMI data, the service sector provided solid growth while manufacturing posted a lower output.
Germany’s manufacturing PMI stood at 50.4 in March
Germany’s (EWG) manufacturing PMI stood at 50.4 in March. This is slightly lower than the level of 50.5 in the previous month. It’s below the Market’s expectation of 50.8. It’s the lowest reading since November 2014. This result is due to the sluggishness of new export orders, slowing emerging economy (EEM) (EDC) (EDZ), and weak international trade. If there’s an improvement in the global (ACWI) (VEU) growth situation, it could drive the manufacturing PMI.
Germany’s service PMI showed a solid growth
Germany’s service PMI stood at 55.5 in March—compared to 55.3 in February. The service sector had a strong performance in March. An increase in the order in the service sector helped it to rise. The service sector showed a moderate increase in job creation.
Although there’s an increase in the service PMI, the Eurozone’s (HEDJ) (EZU) largest economy is still feeling the pressure from the global slowdown. In the next part, we’ll analyze how France’s PMI performed in March.