S&P Global Germany Services PMI in Germany

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

49.7 (Aug-26) ABS · index · Monthly · CSV

Period	index
Aug 2026	49.7
Jul 2026	49.8
Jun 2026	48.6
May 2026	48.1

Period	index
Aug 2026	-0.1

Period	index
Aug 2026	0.4

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 around the third working day of the following month (09:55 Berlin).

What it is

The S&P Global Germany Services PMI (Business Activity Index, sponsored as the HCOB PMI) is a diffusion index based on a survey of purchasing managers in the German services sector. Above 50 signals expansion. Each month has a flash (preliminary) and a final reading.

How it's calculated

A diffusion index of services business activity, based on a single question about the change versus the previous month, seasonally adjusted.

Market implications

Services make up the bulk of German GDP and, together with manufacturing, form the Composite PMI that leads GDP. Upside surprises support the euro, while sub-50 readings point to weak domestic demand.

Limitations

A qualitative survey: it measures the direction of change, not its size. The flash reading is revised in the final.