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Germany EUR

Germany HCOB Manufacturing PMI Flash

Impact:
High
Source: S&P Global

Latest Release:

Date:
Surprise:
0.2
| EUR
Actual:
43.2
Forecast: 43
Previous/Revision:
43
Period: Nov

Next Release:

Date:
Forecast: 48.5
Period: Dec
What Does It Measure?
The HCOB Manufacturing PMI Flash for Germany measures the economic health of the manufacturing sector, focusing on production levels, new orders, employment trends, supplier delivery times, and inventory changes. It serves as a composite index where a value above 50 indicates expansion in the sector, while a value below 50 suggests contraction, thus reflecting national manufacturing performance.
Frequency
The HCOB Manufacturing PMI Flash is released monthly, typically on the first business day of the month, and it represents a preliminary estimate of the sector's conditions for the current month.
Why Do Traders Care?
Traders closely monitor this indicator because it provides timely insights into manufacturing activity, influencing market expectations for economic growth and corporate profitability. A stronger-than-expected PMI reading may boost the euro and equities, while a weaker result can lead to bearish sentiments, impacting currencies, stocks, and other financial assets.
What Is It Derived From?
The HCOB Manufacturing PMI Flash is derived from a survey of purchasing managers across various manufacturing firms in Germany, utilizing diffusion indices where responses reflect business conditions relative to the previous month. The methodology involves a sample of approximately 400 businesses, with data collected on key metrics that affect the manufacturing process, such as production volume, order books, and labor hiring.
Description
The HCOB Manufacturing PMI Flash provides an early snapshot of the manufacturing sector's performance by surveying business activity, allowing for the identification of trends before the final figures are published. Preliminary data derived from these surveys is subject to revisions as more comprehensive information becomes available, but it allows for quick assessments of economic momentum and sectoral health.
Additional Notes
The PMI serves as a leading indicator for the overall economy, often reflecting trends that can influence consumer confidence and spending. Changes in the manufacturing PMI can also be indicative of broader economic conditions, making it crucial for both domestic and global market participants to evaluate its implications on economic health.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for EUR, Bullish for Stocks. Lower than expected: Bearish for EUR, Bearish for Stocks. Dovish tone: Signaling lower interest rates or economic support, is usually bad for the EUR but good for Stocks due to cheaper borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Nov 21, 2025
 
 49.8  
Oct 24, 2025
 
 49.5  
Sep 23, 2025
 
 50  
Aug 21, 2025
 
 48.8  
Jul 24, 2025
 
 49.5  
Jun 23, 2025
 
 49  
May 22, 2025
 
 48.9  
Apr 23, 2025
 
 47.6  
Mar 24, 2025
 
 47  
Feb 21, 2025
 
 45.5  
Jan 24, 2025
 
 42.7  
Dec 16, 2024
 
 43.1  
Nov 22, 2024
43.2
 43
43
 0.2
Oct 24, 2024
42.6
 40.8
40.6
 1.8
Sep 23, 2024
40.3
 42.3
42.4
 -2
Aug 22, 2024
42.1
 43.5
43.2
 -1.4
Jul 24, 2024
42.6
 44
43.5
 -1.4
Jun 21, 2024
43.4
 46.4
45.4
-3
May 23, 2024
45.4
 43.1
42.5
2.3
Apr 23, 2024
42.2
 42.2
41.9
Mar 21, 2024
41.6
 43.1
42.5
 -1.5
Feb 22, 2024
42.3
 46.1
45.5
-3.8
Jan 24, 2024
45.4
 43.7
43.3
 1.7
Dec 15, 2023
43.1
 43.2
42.6
 -0.1
Nov 23, 2023
42.3
 41.2
40.8
 1.1
Oct 24, 2023
40.7
 40
39.6
 0.7
Sep 22, 2023
39.8
 39.5
39.1
 0.3
Aug 23, 2023
39.1
 38.7
38.8
 0.4
Jul 24, 2023
38.8
 41
40.6
 -2.2
Jun 23, 2023
41
 43.5
43.2
-2.5
May 23, 2023
42.9
 45
44.5
-2.1
Apr 21, 2023
44
 45.7
44.7
 -1.7