• Germany’s Manufacturing PMI dropped to 46.1 in March vs. 43.1 estimate.
• Services PMI for the German economy rose to 49.8 in March vs. 48.8 expected.
• EUR/USD defends gains above 1.0900 after mixed German PMIs.

Germany’s manufacturing sector experienced deeper contraction in March while the services sector performance improved, the preliminary business activity report published by the HCOB survey showed Thursday.