The HCOB Germany Composite PMI was revised downward to 53.9 in May 2023, compared to the preliminary estimate of 54.3 and below April's 12-month high of 54.2. Despite the slight dip, the latest PMI reading indicated a solid growth rate in Germany's private sector, primarily driven by increased activity in the services sector. However, manufacturing production declined for the first time in four months. New business inflows were negatively impacted by a sharp decrease in factory orders, while employment continued to rise. On the price front, the rate of input cost inflation decelerated to its lowest level since November 2020, while output charge inflation remained relatively stable. Additionally, business confidence reached a five-month low, reflecting a less optimistic outlook among businesses. source: Markit Economics

Composite PMI in Germany averaged 53.02 points from 2013 until 2023, reaching an all time high of 62.40 points in July of 2021 and a record low of 17.40 points in April of 2020. This page provides the latest reported value for - Germany Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Composite PMI in Germany is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Composite PMI is projected to trend around 54.20 points in 2024 and 53.40 points in 2025, according to our econometric models.

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Germany Composite PMI



Related Last Previous Unit Reference
Services PMI 57.20 56.00 points May 2023
Manufacturing PMI 43.20 44.50 points May 2023
Composite PMI 53.90 54.20 points May 2023

Germany Composite PMI
The HCOB Germany Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
53.90 54.20 62.40 17.40 2013 - 2023 points Monthly

News Stream
German Private Sector Growth Remains Solid
The HCOB Germany Composite PMI was revised downward to 53.9 in May 2023, compared to the preliminary estimate of 54.3 and below April's 12-month high of 54.2. Despite the slight dip, the latest PMI reading indicated a solid growth rate in Germany's private sector, primarily driven by increased activity in the services sector. However, manufacturing production declined for the first time in four months. New business inflows were negatively impacted by a sharp decrease in factory orders, while employment continued to rise. On the price front, the rate of input cost inflation decelerated to its lowest level since November 2020, while output charge inflation remained relatively stable. Additionally, business confidence reached a five-month low, reflecting a less optimistic outlook among businesses.
2023-06-05
German Business Activity Growth at 13-Month High
The HCOB Germany Composite PMI increased marginally to 54.3 in May 2023 from 54.2 the month before, easily beating market consensus of 53.5, a preliminary estimate showed. The latest reading indicated a fourth consecutive month of growth, marking the fastest expansion in over a year. The expansion was solely driven by the services sector, which grew by the most since August 2021, while manufacturing production returned to a state of contraction. Overall inflows of new business and backlogs of work decreased, while employment continued to rise, albeit at a slower pace. On the price front, cost pressures remained centered on the service sector where there were reports of the pass-through of increased wage costs and adjustments to generally high inflation. Finally, business expectations towards activity in the coming year weakened in May.
2023-05-23
German Private Sector Growth Quickens to 12-Month High
The HCOB Germany Composite PMI rose to 54.2 in April 2023, up from the preliminary estimate of 53.9 and surpassing March's 52.6. This reflected the fastest expansion in private sector activity since April 2022, driven by robust growth in services output and a slightly stronger rise in manufacturing production. Notably, new business returned to growth after a ten-month decline, and job creation accelerated to the quickest pace since May 2022. Additionally, input cost inflation has eased to its slowest pace in two-and-a-half years, while prices charged inflation dropped to a two-year low. Despite these positive developments, business expectations have deteriorated for a second consecutive month.
2023-05-04