Germany Services PMI

Last Release

Jul 31, 2024

Actual

52.5

Units In

Points

53.1

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
61.8 Jul 2021	16.2 Apr 2020	52.56 Points	2007-2024	Markit Economics

The Germany Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 500 companies based in the German service sector. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining.

Latest Updates

The HCOB Germany Services PMI dropped to 49.4 in November 2024, down from 51.6 in the prior month and defying market forecasts of 51.6, preliminary estimates showed. The latest reading indicated a renewed contraction in the country's service sector for the first time in nine months. Weak demand led to a continued decline in new work, reducing backlogs and prompting staffing cuts. On the price front, inflationary pressures picked up in November, as firms raised charges to the greatest extent since April amid a steep and accelerated increase in operating expenses. Looking forward, businesses’ expectations towards activity in the forthcoming year deteriorated from the month before.