French and German PMI data
Manufacturing and services PMI results were released this morning with the French private sector expanding at the fastest rate since September 2000. Composite Output Index rose to 62.4 from 59.1 in March making a 10+ year high. Services Activity Index rose from March's 60.4 to 63.4, another 10+ year high. PMI Manufacturing rose to a 4-month high to 56.9. Manufacturing Output Index reached 60.0, making 13-month high.
German output growth remained strong even though decreasing to a five-month low . Composite Output Index went to 59.9 from 60.4 in March. German Services Actibity Index eased to 57.7 from 60.1 in March. Manufacturing PMI reached 61.7 from previous month's (March) 60.9, topping a 2-month high. Output Index reached 63.9, also a 2-month high, from 60.9 in March.
