The S&P Global Flash Germany Composite PMI fell to 52.8 in October 2026 from 53.8 in September, below forecasts of 53.3. The reading pointed to sustained, albeit slower, growth in private-sector business activity, amid a slowdown in both the services sector (51.7 vs. 52.9) and manufacturing output (55.1 vs. 56). New business continued to expand, but did so at the weakest rate for three months. Stronger growth expectations among services firms were offset by a notable reduction in confidence in the manufacturing sector, where input cost inflation surged to its highest since May. Amid reports of competitive pressures and discounted fuel prices, however, the overall rate of increase in prices charged for goods and services ticked down to a seven-month low. In addition, the pace of job creation at services firms was unchanged and only marginal. Workforce numbers in the manufacturing sector came close to stabilising, recording only a marginal fall that was the weakest for over three years. source: S&P Global

Composite PMI in Germany decreased to 52.80 points in October from 53.80 points in September of 2026. Composite PMI in Germany averaged 52.19 points from 2013 until 2026, 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.

Composite PMI in Germany decreased to 52.80 points in October from 53.80 points in September of 2026. Composite PMI in Germany is expected to be 51.50 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 51.90 points in 2027 and 52.50 points in 2028, according to our econometric models.




Components Last Previous Unit Reference
S&P Global Manufacturing PMI 54.20 53.90 points Oct 2026
S&P Global Services PMI 51.70 52.90 points Oct 2026

Related Last Previous Unit Reference
Bankruptcies 2373.00 2266.00 Companies Jul 2026
Ifo Business Climate 90.20 89.90 points Oct 2026
Capacity Utilization 77.90 78.20 percent Sep 2026
Car Production 392200.00 221012.00 Units Sep 2026
Car Registrations 256774.00 212563.00 Units Sep 2026
Changes in Inventories 15.88 11.74 EUR Billion Jun 2026
Composite Leading Indicator 101.01 100.90 points Sep 2026
Corporate Profits 237.38 227.26 EUR Billion Jun 2026
Electricity Price 166.62 163.49 EUR/MWh Oct 2026
Factory Orders MoM -10.60 3.20 percent Aug 2026
Ifo Current Conditions 88.80 89.50 points Oct 2026
Ifo Expectations 91.60 90.40 points Oct 2026
Industrial Production 2.30 -1.80 percent Aug 2026
Industrial Production MoM 2.00 -1.20 percent Aug 2026
Manufacturing Production -0.40 -3.40 percent Aug 2026
Mining Production -10.50 -6.80 percent Aug 2026
New Orders 86.00 96.20 points Aug 2026
New Car Registrations YoY 9.00 2.60 percent Sep 2026
Steel Production 2600.00 2600.00 Thousand Tonnes Sep 2026
ZEW Current Conditions -35.90 -47.10 points Oct 2026
ZEW Economic Sentiment Index 28.10 34.70 points Oct 2026


Germany Composite PMI
The S&P Global 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. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
German Private Sector Activity Growth Slows
The S&P Global Flash Germany Composite PMI fell to 52.8 in October 2026 from 53.8 in September, below forecasts of 53.3. The reading pointed to sustained, albeit slower, growth in private-sector business activity, amid a slowdown in both the services sector (51.7 vs. 52.9) and manufacturing output (55.1 vs. 56). New business continued to expand, but did so at the weakest rate for three months. Stronger growth expectations among services firms were offset by a notable reduction in confidence in the manufacturing sector, where input cost inflation surged to its highest since May. Amid reports of competitive pressures and discounted fuel prices, however, the overall rate of increase in prices charged for goods and services ticked down to a seven-month low. In addition, the pace of job creation at services firms was unchanged and only marginal. Workforce numbers in the manufacturing sector came close to stabilising, recording only a marginal fall that was the weakest for over three years.
2026-10-23
Germany Private Sector Activity Confirmed at 53.8
The S&P Global Germany Composite PMI rose to 53.8 in September 2026 from 51.8 in August, matching preliminary estimates and signaling the strongest expansion in almost a year. Growth was broad-based and led by manufacturing, which also drove increases in new business and export sales. Meanwhile, the services sector returned to expansion, with the Business Activity Index rising to 52.9 from 49.7 in August, marking its highest reading since just before the Middle East conflict began in February. Business expectations also strengthened, supported by improved sentiment among goods producers. Employment increased for a second consecutive month, albeit marginally, as continued gains in services staffing were partly offset by slower factory job cuts. Meanwhile, price pressures intensified, with both input costs and output prices rising at their fastest rates in four months.
2026-10-05
Germany Private Sector Activity Highest in 11 Months
The S&P Global Flash Germany Composite PMI rose to 53.8 in September 2026 from 51.8 in August and well above market expectations of 51.8, according to preliminary estimates. The reading pointed to the strongest growth in private sector activity in 11 months, reflecting a rebound in business activity across the services sector (52.9 vs 49.7) while manufacturing slowed but remained robust (53.8 vs 54.3). There was a rise in demand for goods and services, with inflows of new work increasing for the third month running and to the greatest extent since February 2022. Also, business accumulation was the quickest since May 2022, which prompted an increase in workforce for a second month. This came despite increased inflationary pressures, linked in large part to the rising price of fuel. Input costs rose at the quickest rate for four months and output costs were the highest since May. Meanwhile, expectations towards the outlook held steady.
2026-09-23