Brandenburg Gate in Berlin, Germany

Germany PMI March 2023

Germany: Composite PMI hits highest reading since May 2022 in March

The flash reading of the S&P Global Composite Purchasing Managers’ Index (PMI) came in at 52.6 in March, up from February’s 50.7. March’s result marked the best performance since May 2022. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in private sector operating conditions compared to the previous month.

The Manufacturing PMI clocked in at 44.4 in March, down from February’s 46.3. Lastly, the services PMI activity index rose to 53.9 in March (February: 50.9).

The print suggests a less dark economic outlook than had earlier been expected. After declining for seven months, business conditions improved for the second consecutive month. After falling for eight months in a row, manufacturing output grew for the second consecutive month, and services output grew at the fastest pace in 10 months. Furthermore, employment continued to rise in both sectors. Meanwhile, output inflation fell in both sectors. However, although input inflation turned negative in the manufacturing sector, in the services sector input inflation remained elevated.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest