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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)
German manufacturing PMI dropped to 53.7 in March (flash 53.8) from 54.8 in February.
Growth rates of output and new orders eased further but remained marked, new export orders rose at the slowest pace since October, and companies reduced output charges in response to lower input costs.
"The data signal that there might still be a few obstacles on the path to recovery," says Markit. However, "despite weaker growth in March, the German manufacturing economy rounded off its strongest quarter in nearly three years."
German services PMI increased to a 32-month high of 55.9 (flash 55.4) in February from 53.1 in January
Composite output climbed to a 33-month high of 56.4 (flash 56.1) from 55.5.
"Staffing levels rose to the greatest extent in over two years and business expectations remained at a historically high level," says Markit, "lifting hopes that the current economic upturn will be sustained in the coming months."