Germany Services PMI Revised Lower

2026-04-07 08:11 By Judith Sib-at 1 min. read

The HCOB Germany Services PMI was revised lower to 50.9 in March 2026 from a preliminary reading of 51.2, down from 53.5 in February.

This marked the weakest growth in services activity since a contraction in August 2025.

New orders fell, ending a five-month sequence of growth, as firms reported heightened uncertainty among customers and a squeeze on spending due to rising fuel prices amid the Middle East war.

This reflected a modest decrease in orders from abroad, following three consecutive months of growth.

Employment also fell for the third month in a row.

Input price inflation surged to its highest level since February 2024, moving further above its long-run average, while prices charged rose at the slowest pace recorded so far in 2026, though still above the historical trend.

Moreover, business confidence dropped to its lowest level year-to-date, falling below its long-run average amid concerns over elevated energy prices, supply chain disruptions, and geopolitical uncertainty.



News Stream
Germany Services PMI Revised Lower
The HCOB Germany Services PMI was revised lower to 50.9 in March 2026 from a preliminary reading of 51.2, down from 53.5 in February. This marked the weakest growth in services activity since a contraction in August 2025. New orders fell, ending a five-month sequence of growth, as firms reported heightened uncertainty among customers and a squeeze on spending due to rising fuel prices amid the Middle East war. This reflected a modest decrease in orders from abroad, following three consecutive months of growth. Employment also fell for the third month in a row. Input price inflation surged to its highest level since February 2024, moving further above its long-run average, while prices charged rose at the slowest pace recorded so far in 2026, though still above the historical trend. Moreover, business confidence dropped to its lowest level year-to-date, falling below its long-run average amid concerns over elevated energy prices, supply chain disruptions, and geopolitical uncertainty.
2026-04-07
Germany Services PMI Falls to 7-Month Low
Germany’s flash Services PMI fell to 51.2 in March 2026 from 53.5 in February, below market expectations of 52.5 and marking a seven-month low. New business inflows declined slightly, ending a five-month run of growth, as firms cited rising uncertainty, tighter financial conditions, and customers struggling with higher costs. Cost pressures continued to intensify, although the pace of output price inflation eased to a three-month low, remaining above the long-term average. Employment trends showed a slowdown in job shedding, offering some stability, but overall sentiment weakened, with business expectations dropping to an 11-month low while still in positive territory.
2026-03-24
Germany Services PMI Revised Higher
The HCOB Germany Services PMI was revised slightly higher to a four-month high of 53.5 in February 2026 from a preliminary of 53.4, and compared to 52.4 in January, final figures showed. Growth was driven by stronger demand, as firms reported winning new clients and securing large projects. New business increased for a fifth straight month, with export orders posting their strongest rise since May 2023. Backlogs of work rose slightly, only the third increase in over two-and-a-half years, reflecting improved demand. However, employment declined for the second consecutive month, with the pace of job losses the fastest since June 2020. Cost pressures remained steep, mainly due to wages, energy, transport, and supplier prices, though input inflation eased slightly from January’s peak. Firms continued raising output prices, but less aggressively. Confidence dipped, but optimism stayed above average, supported by rising orders, hopes of broader economic recovery, and increased use of AI.
2026-03-04