The S&P Global Germany Manufacturing PMI fell to 53.8 in September 2026, down from a more than four-year high of 54.3 in August and slightly below market expectations of 54, according to a preliminary estimate. Nevertheless, the reading continued to signal a solid pace of expansion in the manufacturing sector. Manufacturers recorded another month of strong production growth, with the output index at 55.9, although the pace eased slightly from August’s 55-month high. This coincided with another robust increase in factory new orders. Meanwhile, employment moved closer to stabilisation, with payroll numbers recording their slowest decline since September 2023. On the price front, input-cost inflation remained elevated, driven in part by higher energy prices, while factory-gate price inflation eased to its lowest level in six months. Looking ahead, business sentiment improved. source: S&P Global

Manufacturing PMI in Germany decreased to 53.80 points in September from 54.30 points in August of 2026. Manufacturing PMI in Germany averaged 50.90 points from 2008 until 2026, reaching an all time high of 66.60 points in March of 2021 and a record low of 32.00 points in January of 2009. This page provides the latest reported value for - Germany Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Germany decreased to 53.80 points in September from 54.30 points in August of 2026. Manufacturing PMI in Germany is expected to be 53.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Manufacturing PMI is projected to trend around 51.50 points in 2027 and 52.30 points in 2028, according to our econometric models.



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Germany Manufacturing PMI
The S&P Global Germany Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 420 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index 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
Germany Manufacturing Growth Eases Slightly in September
The S&P Global Germany Manufacturing PMI fell to 53.8 in September 2026, down from a more than four-year high of 54.3 in August and slightly below market expectations of 54, according to a preliminary estimate. Nevertheless, the reading continued to signal a solid pace of expansion in the manufacturing sector. Manufacturers recorded another month of strong production growth, with the output index at 55.9, although the pace eased slightly from August’s 55-month high. This coincided with another robust increase in factory new orders. Meanwhile, employment moved closer to stabilisation, with payroll numbers recording their slowest decline since September 2023. On the price front, input-cost inflation remained elevated, driven in part by higher energy prices, while factory-gate price inflation eased to its lowest level in six months. Looking ahead, business sentiment improved.
2026-09-23
Germany Manufacturing PMI Revised Up
The S&P Global Germany Manufacturing PMI was revised slightly higher to 54.3 in August 2026 from a preliminary of 54.1, compared to 52.2 in July. The reading showed that factory growth improved for a third straight month, reaching its strongest level since May 2022, driven by a solid rise in new orders, particularly in the intermediate goods sector, as well as stronger export sales. There was a range of factors driving demand, including increased defence spending, data centre build-outs and stockpiling. Also, the mood among businesses improved noticeably and is now the brightest seen since the Middle East conflict began. However, there was also a worsening of supply chain pressures, which in turn contributed to a marked rise in purchasing activity as firms looked to secure supplies of inputs. Average prices paid for purchases meanwhile rose at the slowest rate since the start of the Middle East conflict, but one that was still elevated by historical standards.
2026-09-01
Germany Manufacturing Growth Highest Since 2022
The S&P Global Germany Manufacturing PMI jumped to 54.1 in August 2026 from 52.2 in the previous month, surpassing market expectations of 52.0, according to preliminary estimates. It marked the seventh consecutive month of expansion and the strongest pace since May 2022, mainly driven by an acceleration in output, new orders, and export sales, all of which expanded at their fastest pace since early 2022. Survey respondents cited stronger demand linked to inventory rebuilding, rising defense spending, and continued investment in data-center infrastructure. On the inflation front, input cost pressures remained elevated by historical standards but eased slightly from July, suggesting that price pressures are becoming more manageable despite ongoing supply-side challenges. Lastly, business confidence improved significantly.
2026-08-21