The latest HCOB Germany Services Purchasing Managers’ Index (PMI) for January 2026 shows a marginal cooling in activity, with the indicator slipping to 52.4 from the previous level of 52.7. Despite the slight decline, the reading remains above the 50.0 threshold, signaling continued expansion in Germany’s services sector.
Both the previous and current PMI readings relate to January 2026 data, with the updated figures published on 4 February 2026. The modest drop suggests that while growth in services is still ongoing, the pace has eased somewhat, hinting at a more cautious start to the year for one of Europe’s largest service-based economies.
