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German Growth Surges to Six-Month High as Covid-19 Recedes

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Growth in Europe’s biggest economy rose sharply in February as the region posted an easing of coronavirus infections.

Source: IHS Markit.

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Germany’s private sector output expanded at the fastest pace in six months, attributable to services activity.

The headline Flash Germany PMI Composite Output Index recorded 56.2 in February, increasing from January’s 53.8 and signaling the strongest growth in private sector activity for six months.

Phil Smith, Economics Associate Director at IHS Markit stated that the German economy continued to regain steam in February after December’s short-lived stagnation in output growth.

German manufacturers recorded a further easing of the supply chain constraints that have hampered factories around the world.

Meanwhile, inflationary pressures remained strong in the economy, with German output prices increasing at the second-fastest rate on record.

February growth numbers signaled the strongest expectations towards future activity for eight months.

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