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German output growth strongest in nearly six years in March
Germany posted the fastest rate of private sector output growth in nearly six years at the end of the first quarter of 2017. The March PMI survey data also signalled a near-record rate of employment growth and the strongest cost pressures for nearly six years. The Markit Flash Germany Composite Output Index rose for the second month running from 56.1 in February to 57.0, the highest since May 2011and signalling marked economic growth in the eurozone’s largest economy. The current sequence of continuous expansion now stretches to 47 months.
Data broken down by sector signalled faster growth in output at both service providers and manufacturers. Goods production continued to outpace tertiary sector activity, rising at the strongest rate since January 2014. Nonetheless, services activity growth hit a 15 -month high.
Stronger expansion of new work fuelled the acceleration in overall output growth in March. New
business increased at the fastest rate since April 2011, reflecting sharper increases in both
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