German Preliminary Manufacturing PMI jumps to 46.1 in February vs. 45.5 expected

• Germany’s Manufacturing PMI rises to 46.1 in February vs. 45.5 forecast.
• Services PMI for the German economy drops to 52.2 in February vs. 52.5 estimated.
• EUR/USD picks up fresh bids to close in on 1.0500 after upbeat German PMIs.

The German manufacturing and services sectors activity improved more-than-expected in February, the preliminary business activity report published by the HCOB survey showed Friday.

The HCOB Manufacturing PMI in the Eurozone’s top economy rose 46.1 this month, compared with January’s 45, beating the forecast of 45.5.