Germany Manufacturing Sector Growth Beats Forecasts

2026-10-23 07:40 By Kyrie Dichosa 1 min. read

Germany’s Manufacturing PMI rose to 54.2 in October 2026 from 53.9 in September, exceeding market expectations of 53.5, preliminary estimates showed.

This marked a two-month high and signalled a continued improvement in manufacturing business conditions.

However, manufacturing output growth eased, with the output index falling to 55.1 from 56.0, its lowest level in three months.

Order books continued to expand, albeit at a slower pace, supported by sustained growth in export sales, while manufacturing backlogs recorded another robust rise.

Meanwhile, employment edged closer to stabilisation, with job losses slowing to their weakest pace in over three years.

On the price front, input-cost inflation accelerated for a second consecutive month to its highest level since May, driven by higher oil prices and rising raw material and component costs.

Looking ahead, manufacturers’ business confidence weakened to its lowest level since July amid growing concerns over rising input prices.



News Stream
Germany Manufacturing Sector Growth Beats Forecasts
Germany’s Manufacturing PMI rose to 54.2 in October 2026 from 53.9 in September, exceeding market expectations of 53.5, preliminary estimates showed. This marked a two-month high and signalled a continued improvement in manufacturing business conditions. However, manufacturing output growth eased, with the output index falling to 55.1 from 56.0, its lowest level in three months. Order books continued to expand, albeit at a slower pace, supported by sustained growth in export sales, while manufacturing backlogs recorded another robust rise. Meanwhile, employment edged closer to stabilisation, with job losses slowing to their weakest pace in over three years. On the price front, input-cost inflation accelerated for a second consecutive month to its highest level since May, driven by higher oil prices and rising raw material and component costs. Looking ahead, manufacturers’ business confidence weakened to its lowest level since July amid growing concerns over rising input prices.
2026-10-23
Germany Manufacturing PMI Revised Slightly Up
The S&P Global Germany Manufacturing PMI was revised slightly higher to 53.9 in September 2026 from a preliminary of 53.8, pointing to a slowdown from 54.3 in August which was the highest since May 2022. Still, the data showed sustained strong growth in both production levels and new orders. Also, goods producers were increasingly optimistic about the upturn continuing in the coming year, with expectations recovering to their highest since February. This was despite manufacturers facing not only a revival in inflationary pressures linked to increased energy prices, but also continued widespread supply delays. Meanwhile, there were signs of growing pressure on operating capacity at factories, as underlined by a marked and accelerated increase in backlogged orders, the steepest since April 2022. Accordingly, firms showed greater restraint on the job cutting front, with employment falling only marginally and at the slowest rate for three years in September.
2026-10-01
Germany Manufacturing Growth Eases Slightly in September
The S&P Global Germany Manufacturing PMI fell to 53.8 in September 2026, down from a more than four-year high of 54.3 in August and slightly below market expectations of 54, according to a preliminary estimate. Nevertheless, the reading continued to signal a solid pace of expansion in the manufacturing sector. Manufacturers recorded another month of strong production growth, with the output index at 55.9, although the pace eased slightly from August’s 55-month high. This coincided with another robust increase in factory new orders. Meanwhile, employment moved closer to stabilisation, with payroll numbers recording their slowest decline since September 2023. On the price front, input-cost inflation remained elevated, driven in part by higher energy prices, while factory-gate price inflation eased to its lowest level in six months. Looking ahead, business sentiment improved.
2026-09-23