The IHS Markit Flash Germany Manufacturing PMI rose to an eleven-month high of 45.2 in January 2020 from 43.7 in the previous month and above market expectations of 44.5, preliminary estimates showed. Still, the latest reading was firmly in contraction territory, but signalled the overall rate of decline in manufacturing easing for the third time in the past four months. New orders fell only modestly and at the slowest rate for 15 months while jobs cuts jumped. On the price front, strong competitive pressures and a ninth straight monthly decrease in the cost of raw materials and other inputs led manufacturers to reduce factory gate prices. Finally, Manufacturers' expectations for output in the year ahead were the most positive in almost one-and-a-half years.

Manufacturing PMI in Germany averaged 51.58 points from 2008 until 2020, reaching an all time high of 63.30 points in December of 2017 and a record low of 32 points in January of 2009. This page provides the latest reported value for - Germany Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics

Manufacturing PMI in Germany is expected to be 47.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Germany to stand at 52.70 in 12 months time. In the long-term, the Germany Manufacturing PMI is projected to trend around 54.00 points in 2020, according to our econometric models.

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Germany Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
45.20 43.70 63.30 32.00 2008 - 2020 points Monthly

News Stream
German Manufacturing PMI Revised Slightly Higher
The IHS Markit Germany Manufacturing PMI was revised higher to 43.7 in December 2019 from a preliminary estimate of 43.4, and below the previous month's five-month high of 44.1. The latest reading pointed to the 12th consecutive month of contraction in the sector, with makers of investment goods noting the worst performance, followed by intermediate goods producers. The decline in production accelerated for the first time in three months, and inflows of new business fell for the 15th month in a row amid uncertainties around trade and the global economic outlook. Employment fell at one of the quickest rates over the past decade and input buying was down sharply. On the price front, input costs decreased sharply, and output charges declined for the sixth consecutive month. Lastly, business sentiment improved to a 15-month high, buoyed somewhat by tentative signs of stabilisation in new orders and hopes for a pickup in economic conditions in 2020.

German Factory Activity Shrinks for 12th Month
The IHS Markit Flash Germany Manufacturing PMI fell to 43.4 in December of 2019 from 44.1 in November, well below market expectations of 44.5. The reading pointed to a deeper contraction in factory activity, which has now shrunk for the 12th straight month. Order books were the weakest since January; export orders recorded the smallest drop in almost a year; outstanding business decreased sharply; and employment fell at the second-fastest rate for almost ten years. On the price front, input prices posted the steepest drop in almost four years and factory gate prices fell further. Finally, business sentiment among manufacturers weakened slightly, with the number of goods producers expecting output to all over the year ahead equal to those predicting a rise.

German Factory Activity Drops the Least in 5 Months
The IHS Markit/BME Germany Manufacturing PMI was revised higher to 44.1 in November 2019 from a preliminary estimate of 43.8 and compared to October's final 42.1. It was the strongest reading since June, but still comfortably inside contraction territory. Output contracted for the tenth consecutive month, the longest sequence of decline since 2008-09, while both new orders and export sales fell at the slowest pace since January. In addition, buying levels and employment across the manufacturing sector dropped at softer rates, while business sentiment was in positive territory for the first time since June. On the price front, input costs fell by the most since March 2016, amid reductions in the price of chemicals, metals and plastics; and average factory gate charges decreased for the fifth month due to strong competition for new work.

Germany Factory Activity Shrinks Less than Expected
The IHS Markit Germany Manufacturing PMI increased to 43.8 in November of 2019 from 42.1 in October, beating market expectations of 42.9, flash figures showed. The reading pointed to the eleventh straight month of contraction in the manufacturing sector although the rate of decline slowed for the second month running to the weakest since August. Demand from abroad fell the least since January; and the decline in both order books and employment slowed. On the price front, factory gate prices dropped and purchase cost continued to fall sharply amid decreasing demand for raw materials and strong competition for new work among suppliers. Finally, business confidence improved.

German Manufacturing PMI Revised Higher
The IHS Markit/BME Germany Manufacturing PMI was revised higher to 42.1 in October 2019 from a preliminary estimate of 41.9 and compared to the previous month’s final 41.7. Still the latest reading pointed to the tenth month of contraction in the factory sector, as output dropped at a softer pace and new orders fell for the thirteenth consecutive month, albeit at a slower pace. Meanwhile, the job shedding rate accelerated to its fastest pace since January 2010, as firms reported lower staffing number mostly attributed to a reduction in temporary workers. On the price front, input costs declined at the quickest rate since March 2016, mainly due to lower prices of metal components, raw steel and plastics, and output cost fell for the fourth successive month and at the sharpest pace since November 2009. Finally, expectations towards output recovered to a four-month high, still sentiment remained negative overall.

German Factory Activity Shrinks for 10th Month
The IHS Markit/BME Germany Manufacturing PMI increased to 41.9 in October 2019 from 41.7 in the previous month, but below market expectations of 42, a preliminary estimate showed. The reading pointed to the tenth consecutive contraction in factory activity, as rates of decline in output and new orders eased slightly. New export orders dropped with the rate of decline sharp by historical standards, but slowed to the weakest since June. Meantime, job losses were recorded as staffing numbers went down to the steepest pace in nearly ten years amid the widespread paring of temporary and contract workers. On the price front, input prices fell at the sharpest pace since March 2016, mostly due to cost of raw materials and output prices dropped at the steepest rate in nearly ten years. Finally, manufacturers remained strongly pessimistic about the outlook, though expectations rebounded to the highest in four months.

Germany Manufacturing PMI
The Markit/BME Germany Manufacturing Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of 500 industrial companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Germany Business Last Previous Highest Lowest Unit
Business Confidence 96.30 95.10 109.80 80.10 points [+]
Services PMI 54.20 52.90 60.30 41.30 points [+]
Manufacturing PMI 45.20 43.70 63.30 32.00 points [+]
Composite Pmi 51.10 50.20 59.00 48.50 points [+]
Industrial Production -2.60 -4.60 15.30 -21.80 percent [+]
Industrial Production Mom 1.10 -1.00 4.00 -6.90 percent [+]
Manufacturing Production -4.00 -5.90 15.50 -24.10 percent [+]
Capacity Utilization 82.60 83.90 88.80 70.30 percent [+]
New Orders 100.30 101.50 113.00 8.80 points [+]
Factory Orders -1.30 0.20 27.10 -15.70 percent [+]
Changes in Inventories -7.73 2.64 11.20 -8.53 EUR Billion [+]
Bankruptcies 1592.00 1507.00 3755.00 416.00 Companies [+]
Corporate Profits 174.78 177.41 188.02 92.45 EUR Billion [+]
Zew Economic Sentiment Index 26.70 10.70 89.60 -63.90 [+]
Car Production 276400.00 423400.00 583399.00 265542.00 Units [+]
Car Registrations 283380.00 299127.00 552865.00 43460.00 [+]
Internet Speed 15298.72 14588.37 15298.72 3207.62 KBps [+]
IP Addresses 38794861.00 38344874.00 38794861.00 18134106.00 IP [+]
Mining Production -6.80 -7.30 46.60 -30.40 percent [+]
Steel Production 3215.00 3322.93 4744.00 907.00 Thousand Tonnes [+]
Competitiveness Index 81.80 82.84 82.84 5.37 Points [+]
Competitiveness Rank 7.00 3.00 7.00 3.00 [+]
Corruption Index 80.00 80.00 82.70 73.00 Points [+]
Corruption Rank 9.00 11.00 20.00 9.00 [+]
Ease of Doing Business 22.00 24.00 27.00 14.00 [+]