The S&P Global Germany Composite PMI was revised slightly higher to 48.4 in April 2026 from a preliminary estimate of 48.3, down from 51.9 in March, signalling a contraction in private sector activity for the first time since May 2025. The downturn was driven by the services sector, which recorded its sharpest contraction in nearly three and a half years (46.9 vs 50.9 in March), reflecting a further squeeze on demand linked to the war in the Middle East. Meanwhile, manufacturing continued to expand, albeit at a slower pace (51.4 vs 52.2), partly supported by stockbuilding. New business declined at the fastest rate since May last year, weighed down by weaker demand for services. Employment and business expectations also deteriorated across both sectors, led by manufacturing, while input costs and output prices rose at broadly faster rates. source: S&P Global

Composite PMI in Germany decreased to 48.40 points in April from 51.90 points in March of 2026. Composite PMI in Germany averaged 52.22 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 48.40 points in April from 51.90 points in March of 2026. Composite PMI in Germany is expected to be 51.90 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 51.40 52.20 points Apr 2026
S&P Global Services PMI 46.90 50.90 points Apr 2026

Related Last Previous Unit Reference
Bankruptcies 1919.00 2037.00 Companies Jan 2026
Ifo Business Climate 84.40 86.30 points Apr 2026
Capacity Utilization 77.40 77.70 percent Mar 2026
Car Production 400800.00 356811.00 Units Mar 2026
Car Registrations 294161.00 211262.00 Units Mar 2026
Changes in Inventories 21.01 20.55 EUR Billion Dec 2025
Composite Leading Indicator 101.35 101.27 points Mar 2026
Corporate Profits 210.63 207.12 EUR Billion Dec 2025
Electricity Price 79.28 79.28 EUR/MWh May 2026
Factory Orders MoM 0.90 -11.10 percent Feb 2026
Ifo Current Conditions 85.40 86.70 points Apr 2026
Ifo Expectations 83.30 85.90 points Apr 2026
Industrial Production 0.00 -0.90 percent Feb 2026
Industrial Production MoM -0.30 0.00 percent Feb 2026
Manufacturing Production -0.20 -0.60 percent Feb 2026
Mining Production -14.00 -6.20 percent Feb 2026
New Orders 88.30 87.50 points Feb 2026
New Car Registrations YoY 16.00 3.80 percent Mar 2026
Steel Production 3300.00 2800.00 Thousand Tonnes Mar 2026
ZEW Current Conditions -73.70 -62.90 points Apr 2026
ZEW Economic Sentiment Index -17.20 -0.50 points Apr 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
Germany Private Sector Activity Contracts in April
The S&P Global Germany Composite PMI was revised slightly higher to 48.4 in April 2026 from a preliminary estimate of 48.3, down from 51.9 in March, signalling a contraction in private sector activity for the first time since May 2025. The downturn was driven by the services sector, which recorded its sharpest contraction in nearly three and a half years (46.9 vs 50.9 in March), reflecting a further squeeze on demand linked to the war in the Middle East. Meanwhile, manufacturing continued to expand, albeit at a slower pace (51.4 vs 52.2), partly supported by stockbuilding. New business declined at the fastest rate since May last year, weighed down by weaker demand for services. Employment and business expectations also deteriorated across both sectors, led by manufacturing, while input costs and output prices rose at broadly faster rates.
2026-05-06
Germany’s Private Sector Contracts in April
Germany’s S&P Global Composite PMI fell to 48.3 in April 2026, down sharply from 51.9 in March and below market expectations of 51.1, according to preliminary data. This marks the first contraction in the country’s private sector since May 2025, and the steepest decline since December 2024, as the ongoing war involving Iran disrupted Germany’s fragile economic rebound, dampening demand and pushing prices higher. The services sector drove the downturn, experiencing its sharpest decline in activity since late 2022, while manufacturing output growth also slowed.
2026-04-23
German Private Sector Growth Slows in March
Germany’s S&P Global Composite PMI fell to 51.9 in March 2026, down from 53.2 in February, marking the weakest private-sector expansion this year. The ongoing Middle East conflict has dampened growth in the service sector, while manufacturing output surged to a 49-month high, driven by supply chain disruptions that paradoxically boosted factory activity. New business remained largely stable, as declining service demand was offset by a rise in factory orders. However, employment declined across sectors, and business confidence for the year ahead weakened. Cost inflation increased, particularly in manufacturing, though average output prices rose at only a slightly faster rate.
2026-04-07