03.09.202508:02:42UTC+00Germany Composite PMI Revised Lower

The HCOB Germany Composite PMI for August 2025 was adjusted downwards to 50.5 from an initial estimate of 50.9, slightly below the July figure of 50.6. This indicates a modest pace of business activity growth for the third consecutive month. The manufacturing sector edged closer to stagnation with a PMI of 49.8, up from 49.1, while the services sector slipped back into contraction territory at 49.3, compared to 50.6 previously. There was a notable increase in manufacturing output, contrasting with another decline in the services sector. New orders experienced a slight downturn, predominantly affected by the services sector. Employment fell at the fastest rate seen in six months, primarily due to reductions in the manufacturing industry. The goods-producing sector also recorded a minor drop in business expectations. On the pricing front, input costs rose at the quickest pace since March. The output charge inflation rate similarly increased, yet it remained below the long-term average, mainly due to discounts in the manufacturing industry.