(RTTNews) – Germany’s private sector growth moderated in April with services activity stalling and the upturn in manufacturing production partly held back by supply shortages, flash survey data from IHS Markit showed on Friday.

The composite output index dropped more-than-expected to 56.0 in April from 57.3 in March. The expected score was 56.8.

Business activity across the service sector stalled in April as companies cited the impact of the pandemic and stricter lockdown measures.

The flash services Purchasing Managers’ Index came in at 50.1 in April, down from 51.5 a month ago and expectations of 50.8.

The manufacturing PMI fell to 66.4 from 66.6 in the previous month. Economists had forecast the index to decline to 65.8.

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