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Confirmed

German manufacturing PMI rises to 54.2 as cost pressures increase

Germany’s manufacturing PMI reached 54.2 in October, up from 53.9 in September, in the S&P Global survey released on 2 November 2026. It remained above the 50 threshold separating expansion from contraction.

Power plant at Volkswagen’s Wolfsburg site in 2015.
Wolfsburg, February 2015. Archive illustration of German industry. Raycer, CC BY-SA 4.0; resized. — Raycer / Wikimedia Commons — CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0/ ; 6 février 2015, redimensionnement.

Output increased for a tenth consecutive month, at its slowest pace since July. New order growth also eased, while export sales increased.

Input cost inflation reached a five-month high and delivery times lengthened. The headline PMI therefore needs to be read alongside its components: a higher index does not mean every aspect of business conditions is improving.

Sources 2