Mubasher: Business activity in the German private sector saw a modest improvement during March, but the growth pace was the slowest in nearly six years, according to data released on Friday.

Germany’s flash composite output index registered 51.5 in March, down from 52.8 in the month before, IHS Markit's purchasing managers’ index (PMI) data showed. This marked the slowest momentum since mid-2013.

The manufacturing PMI and the services PMI both posted declines during March.

The IHS Markit Flash Germany Manufacturing PMI was observed at 44.7, compared to 47.6 in February, hitting the lowest estimated figure since six years and half.

The services PMI fell to 54.9 during the month from 55.3, marking the lowest level seen since two months, IHS Markit data showed.

By 9:49 am GMT, the EUR/USD pair fell 0.66% to $1.1299.