Germany PMI Manufacturing surged to 66.6 in March, up from 60.7, well above expectation of 60.9. That’s also a record high since April 1996. PMI Services rose to 50.8, up from 45.7, well above expectation of 46.3. PMI Composite rose to 56.8, up from 51.1, a 37-month high.
Phil Smith, Associate Director at IHS Markit said: “The ‘flash’ PMI pointed to a notable upturn in German business activity in March, with the data therefore hinting at the prospect of a better-than-expected economic performance in the first quarter…. The sustained upturn in the factory sector has seen the manufacturing PMI reach unprecedented heights, with growth in global demand for German goods showing no signs of abating and businesses reporting that previously-delayed investments are now being realised.
“On the flip side, however, supply chains are coming under increased pressure from the upturn in the manufacturing sector, which is pushing up factory input costs at one of the quickest rates in nearly 25 years of data collection.”
