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- German private sector activity confirms the steady growth seen in Europe
German private sector activity confirms the steady growth seen in Europe
German private sector output growth accelerated in February, as goods production expanded at the fastest rate in over three years and services activity rose solidly. The Markit Flash Germany Composite Output Index rose from January's fourmonth low of 54.8 to 56.1, the highest since April 2014 and signalling strong growth in the eurozone's largest economy. Output has risen continuously since May 2013.
Commenting on the flash PMI data, Trevor Balchin, Senior Economist at IHS Markit said: "The flash PMI results for February signalled the strongest growth of the German economy for just under three years, with manufacturing in particular expanding at a marked pace and services recovering the momentum lost at the start of the year. Moreover, the new Future Output Index is signalling strong confidence among firms, reaching a new high since its inception in mid-2012".
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