FX.co ★ Germany Manufacturing PMI Revised Higher

In January 2026, Germany's HCOB Manufacturing PMI was adjusted upwards to 49.1 from an initial estimate of 48.7, marking the highest level in three months, compared to 47 in December. Production levels rebounded into growth following a short-lived decline in December, driven by a rise in new order intakes for the first time in three months, albeit marginally. Nonetheless, despite a modest enhancement in business outlook for the next 12 months, there was a significant reduction in factory employment and notable decreases in both pre- and post-production inventories. Additionally, the sector experienced escalating cost pressures, with input prices increasing at their fastest pace in over three years. However, due to intense competitive pressures, average prices at the factory gate saw a slight decline.