German Economy Strengthens as Industry Survey Beats Estimate

German manufacturing and services strengthened more than economists forecast this month, adding to signs that the euro area’s largest economy is underpinning the region’s recovery.

A factory index based on a survey of purchasing managers rose to 54.2 from 53.7 in March, Markit Economics said in London today. Economists had forecast 53.8, based on the median of 27 estimates in a Bloomberg News survey. A reading above 50 indicates expansion. A separate services gauge jumped to 55 from 53, also exceeding forecasts.