German Private Sector Growth at 4-Month High

2026-02-20 08:43 By Joana Taborda 1 min. read

The HCOB Flash Germany Composite PMI increased to 53.1 in February 2026 from 52.1 in January, well above forecasts of 52.3.

The reading showed that business activity growth in Germany accelerated to a four-month high, with both manufacturing (52.3 vs 51.4) and services (53.4 vs 52.4) also climbing to their strongest levels in four months.

The upturn continued to be supported by stronger demand for goods and services, with inflows of new work rising for the fourth time in the past five months.

The pace of job losses meanwhile remained solid, although it slowed slightly amid a stabilisation in backlogs of work and a fractional uptick in firms’ expectations for activity over the next 12 months.

As for prices, the latest data indicated the steepest increase in input costs for three years which translated into another solid, albeit slightly slower, rise in average prices charged for goods and services, with the rate of inflation edging down from January’s 23-month high.



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