Deutschland Einkaufsmanagerindex Composite

The HCOB Flash Germany Composite PMI decreased to 47.3 in November 2024, the lowest in nine months, compared to 48.6 in October and well below forecasts of 48.6. The reading showed that business activity fell for the fifth month running and at the quickest rate since February. Sustained weakness in manufacturing (43.2 vs 43) was compounded by the first decrease in services activity for nine months (49.4 vs 51.6). Weaker demand for goods and services led to further job losses and input cost and output price inflation ticked up to the highest for three months, reflecting stronger price pressures in the service sector. On the other hand, business expectations meanwhile edged up further from September’s recent low, although confidence was still subdued by historical standards amid a backdrop of economic and political uncertainty.