FX.co ★ Germany Composite PMI Revised Slightly Higher

The HCOB Germany Composite PMI for April 2025 was adjusted upward to 50.1 from an initial estimate of 49.7, slightly down from March's 51.3. This figure indicates a virtually stable level of private sector business activity, following growth observed in the year's first quarter. The services sector dipped into contraction territory at 49, compared to 50.9 in March, while manufacturing continued its downturn at 48.4, marginally up from 48.3. The decline in new business was minimal, marking its smallest drop in nearly a year, as new manufacturing orders saw a modest uptick and the service sector's fall slowed down. New export orders nearly reached stabilization. Employment figures remained steady after ten consecutive months of decline. Input cost inflation hit a six-month low, mainly due to decreased manufacturing input costs. However, output prices rose at a slightly quicker pace due to a renewed increase in factory gate charges. Meanwhile, the outlook for future output dipped to its lowest point in six months.