The HBOC Germany Manufacturing PMI edged higher to 39.1 in August of 2023 from the three-year low of 38.8 in the previous month, ahead of market estimates of 38.7 but remaining sharply in the contractionary territory, according to a flash estimate. It was the fourteenth consecutive decline in German manufacturing activity, as destocking trends by customers and investment reticence drove the sharpest slump in new orders since May 2020. The developments added to consumer uncertainty and the outlook of rising interest rates, pressuring output despite another month of reduction in firms’ backlogs of work. Still, employment decreased at a marginal level. On the price front, manufacturers’ purchasing prices fell at a slower pace than the previous month. Looking ahead, goods producers displayed a slight increase in optimism for the year ahead. source: Markit Economics

Manufacturing PMI in Germany averaged 51.74 points from 2008 until 2023, 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. Germany Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Manufacturing PMI in Germany is expected to be 41.50 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 54.30 points in 2024 and 54.00 points in 2025, according to our econometric models.

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Germany Manufacturing PMI



Related Last Previous Unit Reference
Services PMI 47.30 52.30 points Aug 2023
Manufacturing PMI 39.10 38.80 points Aug 2023
Composite PMI 44.70 48.50 points Aug 2023

Germany Manufacturing PMI
The HCOB 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.
Actual Previous Highest Lowest Dates Unit Frequency
39.10 38.80 66.60 32.00 2008 - 2023 points Monthly
SA

News Stream
German Manufacturing Activity Falls for 14-Month
The HBOC Germany Manufacturing PMI edged higher to 39.1 in August of 2023 from the three-year low of 38.8 in the previous month, ahead of market estimates of 38.7 but remaining sharply in the contractionary territory, according to a flash estimate. It was the fourteenth consecutive decline in German manufacturing activity, as destocking trends by customers and investment reticence drove the sharpest slump in new orders since May 2020. The developments added to consumer uncertainty and the outlook of rising interest rates, pressuring output despite another month of reduction in firms’ backlogs of work. Still, employment decreased at a marginal level. On the price front, manufacturers’ purchasing prices fell at a slower pace than the previous month. Looking ahead, goods producers displayed a slight increase in optimism for the year ahead.
2023-08-23
Germany Manufacturing PMI Confirmed at 2020-Lows
The HCOB Germany Manufacturing PMI was confirmed at 38.8 in July 2023, the lowest reading since May 2020, from 40.6 in June, continuing to point to worsening business conditions across the German manufacturing sector. Driving the decline was the sharpest drop in new orders in over three years amid weaker demand for all categories of goods. There were numerous reports of clients displaying a wait-and-a-see attitude and looking to run down their stocks levels. Economic and geopolitical uncertainty, coupled with tighter financial conditions, also acted as headwinds to demand. Also, production levels were scaled back for the third successive month and manufacturers continued to make inroad into their backlogs of work. On the price front, the rates of decline in output prices and input costs accelerated to the quickest seen since September 2009 and April 2009 respectively. Meanwhile, goods producers grew more pessimistic about the outlook for production.
2023-08-01
German Manufacturing Downturn Deepens in July
The HCOB Germany Manufacturing PMI dropped to 38.8 in July 2023, down from 40.6 the previous month and well below the market consensus of 41.0, a preliminary estimate showed. The latest reading signaled the steepest pace of deterioration in the manufacturing sector since the aftermath of the COVID pandemic in May 2020. Factory output shrank at the fastest pace for over three years, while new orders contracted further and payroll numbers fell for the first time since January 2021. On the price front, manufacturing purchase prices declined at one of the fastest rates in the series' history.
2023-07-24