Germany's S&P Global Manufacturing PMI climbed to 51.7 in March 2026, up from 50.9 in February and exceeding market expectations of 49.5, according to preliminary data. This marks the strongest expansion in Germany’s manufacturing sector since June 2022, driven by the fastest growth in production since February 2022 and the quickest rise in new orders in four years. Firms reported that the Middle East conflict spurred demand, with customers seeking to avoid supply disruptions and build up inventories. However, supply chain pressures intensified, with lead times lengthening for a seventh consecutive month, the most since July 2022. Input cost inflation surged to its highest since October 2022, fueled by rising energy, fuel, transportation, wages, and raw material costs, while output price inflation hit a three-year peak. Despite the current growth, business sentiment weakened due to ongoing concerns about the war’s impact on the economy. source: S&P Global

Manufacturing PMI in Germany increased to 51.70 points in March from 50.90 points in February of 2026. Manufacturing PMI in Germany averaged 50.87 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 increased to 51.70 points in March from 50.90 points in February of 2026. Manufacturing PMI in Germany is expected to be 51.70 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
German Manufacturing PMI Hits Highest Level Since 2022
Germany's S&P Global Manufacturing PMI climbed to 51.7 in March 2026, up from 50.9 in February and exceeding market expectations of 49.5, according to preliminary data. This marks the strongest expansion in Germany’s manufacturing sector since June 2022, driven by the fastest growth in production since February 2022 and the quickest rise in new orders in four years. Firms reported that the Middle East conflict spurred demand, with customers seeking to avoid supply disruptions and build up inventories. However, supply chain pressures intensified, with lead times lengthening for a seventh consecutive month, the most since July 2022. Input cost inflation surged to its highest since October 2022, fueled by rising energy, fuel, transportation, wages, and raw material costs, while output price inflation hit a three-year peak. Despite the current growth, business sentiment weakened due to ongoing concerns about the war’s impact on the economy.
2026-03-24
Germany Manufacturing PMI Revised Up in Febuary
The HCOB Germany Manufacturing PMI was revised slightly up to 50.9 in February 2026 from a preliminary of 50.7, compared to 49.1 in January. The PMI climbed into growth territory for first time in over three-and-a-half years, driven in large part by stronger increases in both output and new orders and slower decreases in employment and stocks of purchases. There was also an increase in cost pressures, with input price inflation hitting its strongest in over three years. Factory gate charges rose for the first time four months, albeit only modestly. Meanwhile, business expectations reached their highest since February 2022. “A lot of that confidence likely comes from government infrastructure stimulus and the big jump in defence spending. We expect domestic demand to be the main driver of manufacturing growth this year”, Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said.
2026-03-02
German Manufacturing Expands for First Time Since 2022
The HCOB Germany Manufacturing PMI climbed to 50.7 in February 2026, up from 49.1 and well above forecasts of 49.5, according to a preliminary reading. The move above the 50 threshold signals that Germany’s manufacturing sector expanded for the first time since June 2022. Output increased for a second consecutive month, marking the strongest pace since October, while new orders posted their fastest growth in nearly four years, supported by a rebound in export demand. Backlogs of work rose for the first time since May 2022, and although employment continued to decline, the pace of job losses was the second-slowest in almost two-and-a-half years. On the pricing side, input costs rose for a third straight month at the fastest rate since December 2022. Output prices also increased, though only marginally, ending a three-month period of declines.
2026-02-20