Industrial activity in Germany rose to highest level in 36 months

Data released by Markt today showed that Germany's manufacturing PMI rose to 60.6 points in February, compared to 57.1 points in January, the highest level in 36 months, to support increased demand for exports.

The services PMI in Europe's largest economy fell to its lowest level in nine months at 45.9 points in February, compared to 46.7 points in January. Analysts had expected that the services sector in Germany would rise to 46.5 points in February.

The data also showed that the composite PMI, which combines the industrial and service sectors, which together account for more than two-thirds of the German economy, rose to 51.3 points in February, compared to 50.8 points in January, its highest level in two months.