Germany PMI September 2017


Germany: Composite PMI rises to over six year high

September 22, 2017

The Markit Flash Composite Purchasing Managers’ Index (PMI) rose to an over six year high of 57.8 in September, up from 55.8 in August. The PMI —the result of a survey of over 1,000 manufacturing and service businesses based in Germany—has remained above 50, the threshold indicating expansion, since April 2013.

The rise was driven by stronger manufacturing and services PMI readings. In September, output and new orders accelerated sharply, as did new export orders. As a result, employment continued to rise robustly. Backlogs of work also rose strongly. Regarding prices, input costs rose at the fastest pace in five months, which manufacturers have largely passed on to customers.

IHS Markit commented that the increase indicates that “Germany’s private sector economy in rude health, highlighting strong broad-based growth in both business activity and employment.”

FocusEconomics Consensus Forecast panelists expect fixed investment to expand 3.1% in 2017, which is up 0.6 percentage points from last month’s forecast. For 2018, panelists expect fixed investment to grow 3.3%.

Author:, Economist

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Germany PMI Chart

Germany PMI September 2017

Note: Markit Purchasing Managers’ Index (PMI) Composite Output. A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: IHS Markit.

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