German Preliminary Manufacturing PMI edges higher to 48.3 in March vs. 47.7 expected

• Germany’s Manufacturing PMI advanced to 48.3 in March vs. 47.7 anticipated.
• Services PMI for the German economy dropped to 50.2 in March vs. 51.4 forecast.
• EUR/USD holds gains above 1.0850 after mixed German PMIs.

The German manufacturing sector activity performed better than expected while the services sector worsened in March, the preliminary business activity report published by the HCOB survey showed Monday.