Germany Manufacturing PMI

Last Release

Feb 29, 2024

Actual

42.5

Units In

Points

45.5

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
66.6 Mar 2021	32 Jan 2009	51.45 Points	2008-2024	Markit Economics

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.

Latest Updates

The HCOB Germany Manufacturing PMI was revised slightly higher to 42.5 in February 2024 from a preliminary of 42.3. However, the reading continued to point to a deep contraction in the manufacturing sector, with production falling the most since October 2023, due to a deeper downturn in demand. Also, new orders fell faster on lower sales both domestically and abroad, backlogs of work went down and employment fell the most since August 2020. There were also sustained declines in both pre- and post-production inventories amid a further sharp drop in buying levels. Meanwhile, falling demand for inputs maintained downward pressure on purchase prices, which registered in deflation territory for the thirteenth month in a row despite reports of the Red Sea shipping disruption driving up transport costs. Moreover, average output prices fell at a faster rate. Finally, expectations towards future output turned negative on falling backlogs, economic uncertainty and a lack of investment.