Germany Manufacturing PMI
Published:
Seasonally adjusted survey index of German manufacturing conditions; 50 = no change.
Full explanation
The HCOB Germany Manufacturing PMI is a monthly survey of purchasing managers at manufacturers in Germany, compiled by S&P Global. The headline is a seasonally adjusted index built from new orders, output, employment, suppliers' delivery times and stocks of purchases. 50 means no change on the previous month: above 50 indicates manufacturing activity is expanding, below 50 that it is contracting. S&P Global publishes a flash estimate around the 23rd of the reference month and the final figure on the first working day of the next month; the calendar shows both under this name, and the final can revise the flash. It is a national survey covering Germany only and is separate from the HCOB Eurozone Manufacturing PMI, which aggregates several countries.
Why traders watch it
It is one of the earliest monthly readings on German factory activity, released well before official production data.
Stronger vs weaker outcomes
Readings above 50 signal that manufacturing conditions improved on the previous month; below 50 signal deterioration. A reading further from 50 means a faster pace of change. Stronger-than-expected readings tend to support the currency and bond yields.
A higher reading means manufacturing conditions improved more strongly.
A lower reading means conditions improved less or deteriorated.
Above 50 = expansion; below 50 = contraction.
Release details
- Release frequency
- Monthly (flash around the 23rd, final on the first working day of the next month)
Typical volatility
medium. Flash and final releases share this name. This is the Germany national survey, not the Eurozone manufacturing PMI, and not a services or composite PMI.
Trading considerations
- Compare with the 50 line and with consensus.
- Look at new orders for direction.
- Do not confuse with the Eurozone PMI released the same morning.
Educational guidance only — never a trading signal or recommendation.
Related indicators
15-Year Mortgage Rate
A weekly Freddie Mac measure of average U.S. 15-year fixed-rate mortgage borrowing costs.
Absa Manufacturing PMI
A monthly survey indicator tracking whether South African manufacturing conditions are improving or weakening.
ADP Employment Change
ADP Employment Change is a private estimate of changes in U.S. private-sector jobs based on payroll data from ADP.
ADP Nonfarm Employment Change
A monthly, payroll-data-based measure of changes in US private-sector employment.
Ai Group Australian Industry Index
A monthly survey-based gauge of whether activity in Australian industrial sectors is expanding or contracting.
Albania Balance of Trade
Albania Balance of Trade measures the difference between the value of Albania’s goods exports and goods imports.