The S&P Global Germany Manufacturing PMI eased to 51.2 in April 2026 from 52.2 in March, broadly matching market expectations of 51.3, according to flash estimates. The latest reading signals a moderation in manufacturing activity after a solid expansion in the previous month, which had marked the strongest growth since May 2022. Output and new orders continued to increase, but the pace of growth slowed markedly as geopolitical uncertainty weighed on demand and heightened customer caution.
On the price side, cost pressures intensified, largely reflecting the impact of the war in the Middle East. Manufacturers reported higher prices for key inputs such as metals and plastics and faced the strongest overall cost inflation in more than three and a half years. Selling prices rose to their highest level in 39 months, as firms sought to pass part of the increased cost burden on to clients.
