Germany Composite PMI Rises in January

2026-02-04 09:02 By Joana Ferreira 1 min. read

The HCOB Germany Composite PMI increased to 52.1 in January 2026 from 51.3 in December, but remained slightly below a preliminary estimate of 52.5, as a rebound in manufacturing production offset slower growth in services activity.

Total new business expanded for the third time in four months, supported by a broad stabilization in export sales.

Workforce numbers continued to decline, alongside further reductions in backlogs across both manufacturing and services.

On the price front, average input costs rose at the fastest pace in nearly three years, while output charge inflation jumped to a 23-month high, driven mainly by higher service-sector prices as factory gate charges declined further.

Business sentiment climbed to its highest level since May 2024.



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