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Here are the specific numbers for those stronger-than-expected German and French PMIs.
(Anything above 50 indicates growth.)
Closely-watched surveys from Germany and France suggest Europe’s two largest economies enjoyed a strong March.
Growth accelerated in the manufacturing and services sectors in both countries compared with February according to the Markit PMI surveys, beating economists’ expectations.
The March flash PMI results rounded off a strong first quarter for the Germany economy, which enters the spring growing at the fastest rate in nearly six years. The PMI data strongly suggest that economic growth will accelerate in the first quarter.
These numbers paint a rosy picture of the French private sector, as we start to see the effect of various governmental reforms enacted over the last few years. Meanwhile, a high level of business optimism continues to have a positive influence on firms hiring decisions, and can be attributed to a widespread expectation of pro-business policies after May’s presidential elections.