Deutschland Einkaufsmanagerindex Composite

The HCOB Germany Composite PMI was revised marginally higher to 48.6 in October 2024 from a preliminary of 48.4, and compared to 47.5 in September. The reading continued to point to a fourth straight month of contraction in private sector activity, although the pace of decline eased. The drop in the manufacturing sector was smaller (43 vs 40.6) and the services sector expanded at a faster pace (51.6 vs 50.6). Total inflows of new work and new export business continued falling across both monitored sectors, albeit with the respective rates of decline easing from the previous month. Meanwhile, employment fell the most since July 2020, as another marked drop in factory workforce numbers was compounded by an accelerated reduction in services headcounts. On the price front, a slightly faster rise in input costs contrasted with a slowdown in the rate of output charge inflation. Business expectations returned to positive territory, driven by an upturn in services optimism.