May 30, 2024

German Economy Latest: Private Sector Returns to Growth

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.

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