Germany’s flash Manufacturing PMI drops to 50.0 in June as expected
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Na-update: 23 Jun 2026
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German preliminary HCOB Manufacturing PMI arrives lower at 50.0 in June, as expected, from 50.1 in May. The 50.0 figure is a boundary line that separates expansion from contraction.
German preliminary HCOB Manufacturing PMI arrives lower at 50.0 in June, as expected, from 50.1 in May. The 50.0 figure is a boundary line that separates expansion from contraction.
Economic Indicator
HCOB Manufacturing PMI
The Manufacturing Purchasing Managers Index (PMI), released on a monthly basis by S&P Global and Hamburg Commercial Bank (HCOB), is a leading indicator gauging business activity in Germany’s manufacturing sector. The data is derived from surveys of senior executives at private-sector companies. Survey responses reflect the change, if any, in the current month compared to the previous month and can anticipate changing trends in official data series such as Gross Domestic Product (GDP), industrial production, employment and inflation. As Europe’s main manufacturing hub, German PMI data can also be a bellwether of the sector’s health in the broader continent. The index varies between 0 and 100, with levels of 50.0 signaling no change over the previous month. A reading above 50 indicates that the manufacturing economy is generally expanding, a bullish sign for the Euro (EUR). Meanwhile, a reading below 50 signals that activity among goods producers is generally declining, which is seen as bearish for EUR.
Read more.Last release: Tue Jun 23, 2026 07:30 (Prel)
Frequency: Monthly
Actual: 50
Consensus: 50
Previous: 50.1
Source: S&P Global
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