Growth in Germany's services sector accelerated in February after weakening to a four-month low at the start of the year, a survey showed on Friday, suggesting Europe's largest economy will post healthy growth in the first quarter. Markit's final services index rose to 54.4 from 53.4 in January, helped by a sharper increase in new business in post and telecommunications as well as transport and storage.
Markit's final composite Purchasing Managers' Index (PMI), which tracks the activity in manufacturing and services that together account for more than two-thirds of the economy, rose to 56.1 from 54.8 in January to reach a 34-month high.
Markit's final PMI for manufacturing on Wednesday showed growth had accelerated at the strongest rate in nearly six years in February. It said the results suggest manufacturing would contribute to overall growth in the first quarter.
Friday's results suggest that the services sector, which is not traditionally a German strength, would also make a contribution to growth.
Services providers recorded the strongest expansion in new work since February 2016 after three months of slowing growth.
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