Forex and other markets news
5.04.2023, 20:58
The German service sector expands.
The German service sector expands.
S&P Global revealed that The final German services purchasing managers' index (PMI) came in at 53.7 in March, up from February's 50.9, but below the March preliminary figure of 53.9.
The PMI is above 50, indicating an expansion in the German business sector. It was the fastest expansion since May last year. Because demand supports and stimulates employment.
Phil Smith, S&P Deputy Director of Economic Affairs Global said “The German services sector received positive results in the first quarter of the year. Business activity is expanding rapidly as demand continues to recover from the stagnation at the end of last year.”
The final PMI for manufacturing and services rose to 52.6 in March from 50.7 in February, in line with the preliminary figure for March of 52.6.
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