Germany Services PMI

Last Release

Jul 31, 2024

Actual

52.5

Units In

Points

53.1

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	52.56 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 dropped to 50.6 in September 2024 from 51.2 in the previous month, marking the lowest level since March, in line with preliminary estimates. Business activity rose only marginally, while new business inflows declined for the first time in six months due to customer uncertainty, weak investment, and spillover from manufacturing. Export business also fell for the third straight month. Backlogs of work decreased sharply, leading to job cuts for a third consecutive month. Inflationary pressures eased, with cost and price increases slowing to the weakest levels in over three years, although still above pre-pandemic norms. Growth expectations hit a one-year low, with recession fears darkening the outlook.