Indicators
German Rebound Drives Euro-Zone Private Sector to 11-Month High
- April composite PMI index rises to 51.4; economist est. 50.7
- Germany gauge is at 50.5, France at 49.9; both beat estimates
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Euro-area private-sector activity advanced to the highest level in almost a year, driven by a buoyant services sector and Germany’s return to growth.
Data Tuesday showed S&P Global’s purchasing managers’ index increased to 51.4 in April, stronger than the 50.7 predicted by economists and above the 50 level that indicates expansion for a second month. Germany was above that key mark for the first time since June, defying analysts who had expected another sub-par reading.