German Manufacturing PMI Hits Highest Level Since 2022

2026-03-24 08:48 By Joana Ferreira 1 min. read

Germany's S&P Global Manufacturing PMI climbed to 51.7 in March 2026, up from 50.9 in February and exceeding market expectations of 49.5, according to preliminary data.

This marks the strongest expansion in Germany’s manufacturing sector since June 2022, driven by the fastest growth in production since February 2022 and the quickest rise in new orders in four years.

Firms reported that the Middle East conflict spurred demand, with customers seeking to avoid supply disruptions and build up inventories.

However, supply chain pressures intensified, with lead times lengthening for a seventh consecutive month, the most since July 2022.

Input cost inflation surged to its highest since October 2022, fueled by rising energy, fuel, transportation, wages, and raw material costs, while output price inflation hit a three-year peak.

Despite the current growth, business sentiment weakened due to ongoing concerns about the war’s impact on the economy.



News Stream
German Manufacturing PMI Hits Highest Level Since 2022
Germany's S&P Global Manufacturing PMI climbed to 51.7 in March 2026, up from 50.9 in February and exceeding market expectations of 49.5, according to preliminary data. This marks the strongest expansion in Germany’s manufacturing sector since June 2022, driven by the fastest growth in production since February 2022 and the quickest rise in new orders in four years. Firms reported that the Middle East conflict spurred demand, with customers seeking to avoid supply disruptions and build up inventories. However, supply chain pressures intensified, with lead times lengthening for a seventh consecutive month, the most since July 2022. Input cost inflation surged to its highest since October 2022, fueled by rising energy, fuel, transportation, wages, and raw material costs, while output price inflation hit a three-year peak. Despite the current growth, business sentiment weakened due to ongoing concerns about the war’s impact on the economy.
2026-03-24
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