FX.co ★ Germany Manufacturing PMI Revised Up

The S&P Global Germany Manufacturing PMI was revised slightly up to 54.3 in August 2026 from a preliminary estimate of 54.1, and from 52.2 in July. This signaled a third consecutive month of strengthening factory activity and the fastest pace of growth since May 2022, underpinned by a solid increase in new orders—especially in the intermediate goods segment—and a pickup in export sales. Demand was supported by several factors, including higher defence spending, data centre construction, and stockpiling. Business confidence also improved markedly, reaching its highest level since the onset of the Middle East conflict. At the same time, supply chain pressures worsened, prompting a notable rise in purchasing activity as firms sought to secure input supplies. While average input prices continued to climb, the rate of increase eased to its slowest since the start of the Middle East conflict, though it remained elevated by historical standards.