DAX Has Increased After Positive PMI Data

Forex News

The stock index of Germany DAX rose by 0.16% and is trading at 12.455.75 level. The growth of the DAX index was supported by positive data on German and Eurozone Services PMIs.

The German Services PMI grew to 54.0, which is higher than the forecast of 53.7. Eurozone Services PMI rose to 55.4, ahead of the forecast of 54.7. But still, both indicators declined in June. Retail sales in the euro area rose to 0.4%, according to the forecast.

The German manufacturing sector is in good shape, supported by a higher demand for German exports. The German Manufacturing PMI rose to 59.6, indicating an expansion.