Seeking Alpha

German business activity strengthens

  • German flash manufacturing PMI has increased to 54.2 in April from 53.7 in March and topped consensus of 54.
  • Services has risen to 55 from 53 and vs 53.4.
  • Manufacturing output has climbed to 58.8 from 57.
  • Composite output has grown to to 56.3 from 54.3.
  • "A combination of increased activity, rising new orders and further employment growth across both the manufacturing and service sectors suggest companies will remain in expansion mode during the coming months," says Markit. The data indicates that "the economy is set to build on the foundation of last quarter's solid growth."
  • However, Markit warns that price data points to an "increasing risk of deflationary pressures."
  • The DAX is flat after being lower earlier, while the euro has recovered from prior losses, particularly after French PMI data, and is +0.05% at $1.3814. (PR)
  • ETFs: EWG, BUND, EWGS, DBGR, GERJ, DXGE, BUNL, FGM, BUNT, GGOV, HEWG
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