The HCOB Germany Manufacturing PMI was revised slightly up to 50.9 in February 2026 from a preliminary of 50.7, compared to 49.1 in January. The PMI climbed into growth territory for first time in over three-and-a-half years, driven in large part by stronger increases in both output and new orders and slower decreases in employment and stocks of purchases. There was also an increase in cost pressures, with input price inflation hitting its strongest in over three years. Factory gate charges rose for the first time four months, albeit only modestly. Meanwhile, business expectations reached their highest since February 2022. “A lot of that confidence likely comes from government infrastructure stimulus and the big jump in defence spending. We expect domestic demand to be the main driver of manufacturing growth this year”, Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said. source: S&P Global

Manufacturing PMI in Germany increased to 50.90 points in February from 49.10 points in January of 2026. Manufacturing PMI in Germany averaged 50.86 points from 2008 until 2026, reaching an all time high of 66.60 points in March of 2021 and a record low of 32 points in January of 2009. This page provides the latest reported value for - Germany Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Germany increased to 50.90 points in February from 49.10 points in January of 2026. Manufacturing PMI in Germany is expected to be 50.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Manufacturing PMI is projected to trend around 51.50 points in 2027 and 52.30 points in 2028, according to our econometric models.



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Germany Manufacturing PMI
The HCOB Germany Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to purchasing managers in a panel of around 420 manufacturers. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index 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 Manufacturing PMI Revised Up in Febuary
The HCOB Germany Manufacturing PMI was revised slightly up to 50.9 in February 2026 from a preliminary of 50.7, compared to 49.1 in January. The PMI climbed into growth territory for first time in over three-and-a-half years, driven in large part by stronger increases in both output and new orders and slower decreases in employment and stocks of purchases. There was also an increase in cost pressures, with input price inflation hitting its strongest in over three years. Factory gate charges rose for the first time four months, albeit only modestly. Meanwhile, business expectations reached their highest since February 2022. “A lot of that confidence likely comes from government infrastructure stimulus and the big jump in defence spending. We expect domestic demand to be the main driver of manufacturing growth this year”, Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said.
2026-03-02
German Manufacturing Expands for First Time Since 2022
The HCOB Germany Manufacturing PMI climbed to 50.7 in February 2026, up from 49.1 and well above forecasts of 49.5, according to a preliminary reading. The move above the 50 threshold signals that Germany’s manufacturing sector expanded for the first time since June 2022. Output increased for a second consecutive month, marking the strongest pace since October, while new orders posted their fastest growth in nearly four years, supported by a rebound in export demand. Backlogs of work rose for the first time since May 2022, and although employment continued to decline, the pace of job losses was the second-slowest in almost two-and-a-half years. On the pricing side, input costs rose for a third straight month at the fastest rate since December 2022. Output prices also increased, though only marginally, ending a three-month period of declines.
2026-02-20
Germany Manufacturing PMI Revised Higher
The HCOB Germany Manufacturing PMI was revised higher to 49.1 in January 2026 from a preliminary of 48.7, the highest reading in three months, compared to 47 in December. Output levels returned to growth after a brief contraction in December, supported by increased intakes of new orders, which rose for the first time in three months, albeit only marginally. However, despite a slight improvement in firms' expectations for activity in the coming 12 months, there was another marked drop in factory workforce numbers, as well as further notable decreases in both pre- and postproduction inventories. There were also growing cost pressures across the sector as input prices rose at the quickest rate for over three years. Still, average factory gate charges fell slightly due to strong competitive pressures.
2026-02-02