23.09.202607:45:07UTC+00Germany Private Sector Activity Highest in 11 Months

The S&P Global Flash Germany Composite PMI rose to 53.8 in September 2026, up from 51.8 in August and comfortably above market expectations of 51.8, according to preliminary estimates. The reading signaled the strongest expansion in private sector activity in 11 months, driven by a clear rebound in services (52.9 vs. 49.7) and still-solid, though slightly slower, growth in manufacturing (53.8 vs. 54.3).

Demand for both goods and services strengthened further, with new business inflows rising for a third consecutive month and at the fastest pace since February 2022. Backlogs of work accumulated at the quickest rate since May 2022, prompting firms to expand their workforce for a second straight month.

This improvement in activity occurred despite mounting inflationary pressures, largely attributable to higher fuel prices. Input costs increased at the fastest rate in four months, while output charges rose at the sharpest pace since May. Meanwhile, business expectations for the year ahead remained broadly unchanged.