FX.co ★ Germany Composite PMI at 10-Month High

In March 2025, the HCOB Flash Germany Composite PMI experienced a rise to 50.9, edging up from February's figure of 50.4, though it fell slightly short of the projected 51. This indicates the most robust expansion in private sector activity observed in the past ten months. Notably, there was the first uptick in manufacturing output in nearly two years, despite growth in the service sector nearing a standstill due to a persistent lack of new incoming work. Employment numbers continued to decline, paralleling evidence of low capacity utilization, yet the pace of workforce reductions had decelerated. Furthermore, inflationary pressures showed signs of abating, with both input costs and output prices increasing at their slowest rates since last October. Lastly, the outlook for future activity saw a modest improvement.