Germany:
HCOB Composite PMI: 52.4 (est 50.7; prev 50.5)
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Create account Try a demo Download mobile app Download mobile app- HCOB Manufacturing PMI Sep P: 48.5 (est 50.0; prev 49.8)
- HCOB Services PMI: 52.5 (est 49.5; prev 49.3)
In September, German business activity grew at its fastest pace in 16 months, with the HCOB Flash Germany Composite PMI rising to 52.4, mainly thanks to a strong rebound in the services sector. Despite this growth, new orders declined across both manufacturing and services, reflecting fragile demand and leading to a further drop in employment, which fell for the sixteenth consecutive month. Inflationary pressures picked up slightly, with both input and output prices rising at their quickest rates in several months, especially in services. Business expectations for the year ahead softened again, falling below the long-term average, as companies cited economic uncertainty, high costs, and weak demand as key concerns. While the overall economy is expanding, the lack of new business and subdued confidence suggest that the current momentum may not be sustained in the coming months.
France:
France HCOB Manufacturing PMI Sep P: 48.1 (est 50.1; prev 50.4)
- HCOB Services PMI: 48.9 (est 49.6; prev 49.8)
- HCOB Composite PMI: 48.4 (est 49.7; prev 49.8)
In September, economic activity in France weakened at the sharpest pace since April, with the HCOB Flash France Composite PMI falling to 48.4, marking the fastest monthly decline in five months. Output in both manufacturing and services dropped significantly, and new orders have now been declining for sixteen consecutive months, which companies attribute to weak demand and political uncertainty. Despite this, private sector employment rose for the second month in a row, although the pace of growth was modest, and for the first time since May, companies lowered prices to boost competitiveness. Operating costs continued to rise, but at a slower rate, and growth prospects remain weak due to ongoing uncertainty and subdued demand. Leading indicators do not point to improvement in the coming months, and the situation is further worsened by political tensions in the country.
EUR/USD is rebounding after the release of German PMI data. Source: xStation
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