Germany Services PMI

Last Release

Apr 30, 2024

Actual

53.3

Units In

Points

50.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
61.8 Jul 2021	16.2 Apr 2020	52.55 Points	2007-2024	Markit Economics

The Germany Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 500 companies based in the German service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Latest Updates

The HCOB Germany Services PMI surged to 53.3 in April 2024, well above the expected 50.6 and up from 50.1 in March. This marked the sharpest expansion since June 2023, driven by rising demand conditions, buoyed by heightened client interest. Moreover, employment grew slightly, as well as the backlogs of work. Meanwhile, new orders saw the steepest decline in 5 months and new business continued to decrease, albeit at a slower rate in almost a year. On the price front, input costs rose slightly from the previous 3-month low, aligning with historical averages. Similarly, output costs accelerated, nearly matching long-run averages after hitting a 37-month low in March. Finally, the overall business confidence dipped slightly, reflecting a cooling of optimism from March's 25-month high.