Economic Buzz: German Private Sector Grows Strong In April

German private sector growth improved well at the start of the second quarter, survey results from IHS Markit showed Monday. The flash composite output index improved unexpectedly to 55.3 in April from 55.1 in March. The reading was forecast to fall to 54.8. Likewise, the services Purchasing Managers Index came in at 54.1, up from 53.9 in the previous month. The score was forecast to drop to 53.7. Meanwhile, the manufacturing PMI fell to a 9-month low of 58.1 from 58.2 in March. The reading was above the forecast of 57.5.