German Private Sector Activity Growth Slows

2026-10-23 07:43 By Joana Taborda 1 min. read

The S&P Global Flash Germany Composite PMI fell to 52.8 in October 2026 from 53.8 in September, below forecasts of 53.3.

The reading pointed to sustained, albeit slower, growth in private-sector business activity, amid a slowdown in both the services sector (51.7 vs. 52.9) and manufacturing output (55.1 vs. 56).

New business continued to expand, but did so at the weakest rate for three months.

Stronger growth expectations among services firms were offset by a notable reduction in confidence in the manufacturing sector, where input cost inflation surged to its highest since May.

Amid reports of competitive pressures and discounted fuel prices, however, the overall rate of increase in prices charged for goods and services ticked down to a seven-month low.

In addition, the pace of job creation at services firms was unchanged and only marginal.

Workforce numbers in the manufacturing sector came close to stabilising, recording only a marginal fall that was the weakest for over three years.



News Stream
German Private Sector Activity Growth Slows
The S&P Global Flash Germany Composite PMI fell to 52.8 in October 2026 from 53.8 in September, below forecasts of 53.3. The reading pointed to sustained, albeit slower, growth in private-sector business activity, amid a slowdown in both the services sector (51.7 vs. 52.9) and manufacturing output (55.1 vs. 56). New business continued to expand, but did so at the weakest rate for three months. Stronger growth expectations among services firms were offset by a notable reduction in confidence in the manufacturing sector, where input cost inflation surged to its highest since May. Amid reports of competitive pressures and discounted fuel prices, however, the overall rate of increase in prices charged for goods and services ticked down to a seven-month low. In addition, the pace of job creation at services firms was unchanged and only marginal. Workforce numbers in the manufacturing sector came close to stabilising, recording only a marginal fall that was the weakest for over three years.
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