Germany Composite PMI

Last Release

Nov 30, 2023

Actual

47.8

Units In

Points

45.9

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
62.4 Jul 2021	17.4 Apr 2020	52.75 Points	2013-2023	Markit Economics

In Germany, the Germany Composite Output Index tracks business trends across both the manufacturing and service sectors, based on data collected from a representative panel of over 1,000 companies (50 percent from the manufacturing sector and 50 percent from the services sector). The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Latest Updates

The HCOB Germany Composite PMI was revised higher to 47.8 in November 2023, up from a preliminary estimate of 47.1 and above October's 45.9. Although still indicative of contraction, this latest reading marked the slowest rate of decline in four months. Notably, the service sector exhibited signs of nearing stabilization, while manufacturing production decreased the least since May. Moreover, total new business and foreign new work recorded the least severe declines in five and seven months, respectively, albeit with a slight drop in employment levels. On the pricing front, output charge inflation held steady at October's 32-month low, while input cost inflation accelerated. Lastly, business expectations improved for the second consecutive month but remained subdued overall.