German Private Sector Growth At 3-Month Low

(RTTNews) - Germany's private sector expanded at the slowest pace in three months in March and cost pressures intensified due to the war in the Middle East, flash survey results from S&P Global revealed Tuesday.

The flash composite output index posted 51.9 in March, down from 53.2 in February. The score was forecast to fall to 51.8.

"March's flash data show the first impacts of the war in the Middle East on growth, demand, business confidence and, perhaps most notably, prices," S&P Global Market Intelligence Economics Associate Director Phil Smith said.

The services Purchasing Managers' Index registered a 7-month low of 51.2 in March compared to 53.5 in the prior month. The reading was expected to drop to 52.5.

On the other hand, the manufacturing PMI hit a 45-month high of 51.7, up from 50.9 in February. The reading was seen at 49.6.