S&P Global Germany Manufacturing PMI in Germany

S&P Global · Monthly (flash + final) · Importance

53.9 (Sep-26) ABS · index · Monthly · CSV

Period	index
Sep 2026	53.9
Aug 2026	54.1
Jul 2026	52.2
Jun 2026	50.3
May 2026	50.1

Period	index
Oct 2026	0.3
Sep 2026	-0.2

Period	index
Oct 2026	4.6
Sep 2026	4.4

About this indicator

Source

S&P Global Market Intelligence

Frequency

Monthly (flash + final)

Release

Flash around the 21st-24th of the same month (09:30 Berlin); final on the first working day of the following month (09:55 Berlin).

What it is

The S&P Global Germany Manufacturing PMI (sponsored as the HCOB PMI) is a diffusion index based on a survey of purchasing managers in German manufacturing. Above 50 signals expansion; below 50, contraction. Each month there is a flash (preliminary, with most responses in) and a final reading that revises it.

How it's calculated

A weighted composite of five sub-indices: new orders (30%), output (25%), employment (20%), suppliers' delivery times (15%) and stocks of purchases (10%). Seasonally adjusted.

Market implications

Germany is Europe's largest industrial economy, so its manufacturing PMI is one of the first signals of the euro-area factory cycle and moves the euro (the flash more than the final). Readings below 50 point to a contraction in factory activity.

Limitations

A qualitative survey: it reflects the direction of change, not its magnitude. The flash reading is revised in the final and it does not capture the detail of prices or of actual output.