German business activity returns to growth in April, PMI sur

German business activity returns to growth in April, PMI survey shows

Germany's private sector unexpectedly returned to growth in April, driven by a solid rise in activity in the country’s service sector, a preliminary survey showed on Tuesday. The composite PMI index tracks the services and manufacturing sectors that together account for more than two-thirds of the German economy. "Factoring in the PMI numbers into our GDP Nowcast, we estimate that GDP may expand by 0.2% in the second quarter, following an estimated 0.1% growth in the first quarter," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

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