Germany Manufacturing PMI2008-2020 Data | 2021-2022 Forecast | Calendar

The IHS Markit Germany Manufacturing PMI fell to 57.9 in November of 2020 from 58.2 in October, but above market forecasts of 56.5, flash estimates showed. The reading still pointed to a strong growth in factory activity, with the output index remaining levanted at 62.7, albeit down from October’s peak of 65.1, its first correction for seven months. Also, order books extended their recent recovery, helped by rising exports sales, albeit with the data highlighting some loss of momentum in the rate of growth. Job losses slowed and factory gate charges increased to the greatest extent since May 2019 amid a solid and accelerated uptick in goods producers’ purchase prices. Finally, manufacturers remained generally upbeat about the outlook amid progress in the development of COVID-19 vaccines.

The IHS Markit/BME Germany Manufacturing PMI was revised higher to 58.2 in October of 2020 from a preliminary of 58, pointing to the strongest expansion in factory activity since March of 2018. New orders rose at record pace amid stronger demand both domestically and abroad, with rising sales to Asia (particularly China) helping lift new export orders to the greatest extent since December of 2017. As a result, output growth was the third-fastest on record and reflected sharp increases in consumer, intermediate and investment goods. On the other hand, employment fell for the twentieth month. On the price front, average factory gate charges rose modestly and for the first time since May 2019, as stronger demand allowed some goods producers to pass on the burden of higher costs to clients. On the other hand, business confidence slowed slightly from a 32-month high in September but companies remained positive in general.

The IHS Markit Germany Manufacturing PMI increased to 58 in October of 2020 from 56.4 in September and well above market expectations of 55.1. The reading pointed to the strongest expansion in factory activity since April of 2018, preliminary estimates showed. Stronger growth of factory output and new orders, a slower fall in stocks of purchases, and a greater lengthening of input delivery times drove the expansion. There were increases in sales to Asia (often China), the US and across Europe. Input prices rose only marginally, but it was the first increase in a year-and-a-half amid higher demand for materials and associated shortages at suppliers. On the other hand, further staff cuts were observed.

The IHS Markit/BME Germany Manufacturing PMI was revised slightly lower to 56.4 in September 2020, from a preliminary estimate of 56.6 and compared to August's 52.2. Still, the latest reading pointed to the steepest expansion in the sector since July 2018 as the economy continued to recover from the pandemic shock. New order growth was among the strongest recorded since data collection began in 1996, with new export orders rising the most since December 2017 amid reports of improved demand across Europe, China and Turkey. In addition, output increased the most in more than two-and-a-half years, while the rate of job shedding eased for the second month in a row. Purchasing activity growth was the fastest seen since February 2018. On the price front, both input costs and output charges fell. Looking ahead, business optimism reached the highest since January 2018, amid signs of clients upping spending and growing hopes of a post COVID-19 recovery in market demand.