Germany S&P Global Germany Composite PMI in Germany

S&P Global · Monthly (flash + final) · Importance

52.8 (Oct-26) ABS · index · Monthly · CSV
-1.0 (Oct-26) MOM · index · Monthly · CSV
-1.1 (Oct-26) YOY · index · Monthly · CSV
Periodindex
Oct 2026 52.8
Sep 2026 53.8
Aug 2026 51.0
Jul 2026 51.3
Jun 2026 49.5
May 2026 48.8
Periodindex
Oct 2026 -1.0
Periodindex
Oct 2026 -1.1

About this indicator

Source
S&P Global Market Intelligence
Frequency
Monthly (flash + final)
Release
Flash around the 21st-24th of the same month (09:30 Berlin); final with the services PMI, around the third working day of the following month (09:55 Berlin).
What it is
The S&P Global Germany Composite PMI (sponsored as the HCOB PMI) blends manufacturing output and services activity into a single diffusion index of the private sector. A reading above 50 signals expansion; below 50, contraction.
How it's calculated
A weighted average of the Manufacturing Output Index and the Services Business Activity Index, with weights reflecting each sector's share of GDP. It is compiled from a survey of purchasing managers and seasonally adjusted, with a flash and a final release.
Market implications
It is the best monthly leading indicator of German GDP within the PMI family. As Germany is the euro area's largest economy, upside surprises tend to support the euro and bond yields, while sub-50 readings stoke recession fears.
Limitations
It is a qualitative survey: it captures the direction of change, not its magnitude. It is not comparable with the headline manufacturing PMI (which includes orders, employment and other sub-indices), and the flash reading is revised in the final.