The S&P Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing market expectations of 49.9. The reading signaled a third consecutive month of contraction in private-sector activity and the steepest decline since December 2024. The downturn was driven primarily by the services sector, where the PMI fell to 46.8 from 48.1, its lowest level in 43 months, while manufacturing output expanded at a slightly faster pace (50.8 vs 50.4). The weakness reflected subdued underlying demand, with new business inflows declining for a fourth straight month and at the fastest pace since December 2024 amid deteriorating economic conditions and heightened market uncertainty. Employment also continued to fall across the private sector. Meanwhile, inflationary pressures eased further, with both input costs and output prices rising at their slowest rates in four and three months, respectively. In addition, business expectations also weakened. source: S&P Global

Composite PMI in Germany decreased to 48 points in June from 48.80 points in May of 2026. Composite PMI in Germany averaged 52.18 points from 2013 until 2026, reaching an all time high of 62.40 points in July of 2021 and a record low of 17.40 points in April of 2020. This page provides the latest reported value for - Germany Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Composite PMI in Germany decreased to 48 points in June from 48.80 points in May of 2026. Composite PMI in Germany is expected to be 48.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Composite PMI is projected to trend around 51.90 points in 2027 and 52.50 points in 2028, according to our econometric models.




Components Last Previous Unit Reference
S&P Global Manufacturing PMI 50.30 50.10 points Jun 2026
S&P Global Services PMI 46.80 48.10 points Jun 2026

Related Last Previous Unit Reference
Bankruptcies 2308.00 2048.00 Companies Mar 2026
Ifo Business Climate 85.60 85.00 points Jun 2026
Capacity Utilization 78.40 77.70 percent Jun 2026
Car Production 301600.00 352966.00 Units May 2026
Car Registrations 239448.00 249163.00 Units May 2026
Changes in Inventories 14.84 26.42 EUR Billion Mar 2026
Composite Leading Indicator 100.84 100.89 points May 2026
Corporate Profits 204.92 210.61 EUR Billion Mar 2026
Electricity Price 105.19 106.16 EUR/MWh Jun 2026
Factory Orders MoM -3.80 4.50 percent Apr 2026
Ifo Current Conditions 87.00 86.10 points Jun 2026
Ifo Expectations 84.10 83.90 points Jun 2026
Industrial Production -0.50 -3.40 percent Apr 2026
Industrial Production MoM 0.40 -0.10 percent Apr 2026
Manufacturing Production -1.70 -4.90 percent Apr 2026
Mining Production -8.90 -4.50 percent Apr 2026
New Orders 89.10 92.60 points Apr 2026
New Car Registrations YoY 0.10 2.70 percent May 2026
Steel Production 3200.00 3200.00 Thousand Tonnes May 2026
ZEW Current Conditions -81.00 -77.80 points Jun 2026
ZEW Economic Sentiment Index 10.50 -10.20 points Jun 2026


Germany Composite PMI
The S&P Global Germany Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, tracks business trends across private sector activity. The index tracks variables such as sales, new orders, employment, inventories and prices; and 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 Private Sector Activity Shrinks the Most Since 2024
The S&P Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing market expectations of 49.9. The reading signaled a third consecutive month of contraction in private-sector activity and the steepest decline since December 2024. The downturn was driven primarily by the services sector, where the PMI fell to 46.8 from 48.1, its lowest level in 43 months, while manufacturing output expanded at a slightly faster pace (50.8 vs 50.4). The weakness reflected subdued underlying demand, with new business inflows declining for a fourth straight month and at the fastest pace since December 2024 amid deteriorating economic conditions and heightened market uncertainty. Employment also continued to fall across the private sector. Meanwhile, inflationary pressures eased further, with both input costs and output prices rising at their slowest rates in four and three months, respectively. In addition, business expectations also weakened.
2026-06-23
Germany Private Sector Activity Shrinks for 2nd Month
The S&P Global Germany Composite PMI was revised higher to 48.8 in May 2026 from a preliminary of 48.6 and compared to 48.4 in April, but continuing to signal a second straight month of contraction in private sector activity. The services sector continued to fall (48.1 vs 46.9) while manufacturing stalled (50.1 vs 51.4). There were broad-based decreases in new work, employment and backlogs. On the price front, input cost inflation accelerated to a 42-month high, but average charges for goods and services rose more slowly than in April. On the other hand, business expectations improved in both monitored sectors.
2026-06-03
German Private Sector Activity Shrinks for 2nd Month
The S&P Global Germany Composite PMI edged up to 48.6 in May 2026 from 48.4 in April, compared to forecasts of 48.4, preliminary estimates showed. The reading pointed to a second straight month of contraction in private sector activity, amid a backdrop of weakening demand and elevated inflationary pressures. The downturn continued to be led by the service sector (47.8 vs 46.9), although there was a stalling of the manufacturing sector (49.9 vs 51.4) as factory orders fell back into decline. Input cost inflation rose to the quickest for three and-a-half years, mainly due to commodities and transportation cost, reflecting the disruption from the effective closure of the Strait of Hormuz. Meanwhile, output inflation slowed, suggesting businesses shouldering a greater proportion of the burden and hinting at an increased squeeze on company margins. Also, the pace of job losses gathered pace, despite business expectations showing a partial rebound from April's low.
2026-05-21