FXstreet.com (Barcelona) - German Manufacturing activity has grown at a slower than expected pace, while services activity growth has accelerated unexpectedly in April, according to the flash estimated of the German Purchasing Managers' Index.

Manufacturing PMI has decreased to 53.6 in April from 55.1 in March, a sharper then expected decline, as market analysts had expected a drop to 54.8.

Services activity, however, has posted a larger than expected growth in April, as the PMI reached 54.6 in April, from 51.8 in March.