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Germany EUR

Germany HCOB Composite PMI Final

Info

History

Chart

Impact:

Low

Source: S&P Global

Latest Release:

Date:

Surprise:

-0.1

Actual:

47.2

Forecast: 47.3

Previous/Revision:

48.6

Period: Nov

Next Release:

Date:

Forecast: 51.5

Period: Dec

What Does It Measure?

The Germany HCOB Composite PMI Final measures the economic health of the German private sector by aggregating the activity levels in the manufacturing and services sectors. It primarily focuses on production, employment, and new orders, with a key indicator threshold of 50 indicating an expansion (above 50) or contraction (below 50) in business conditions, providing a national insight into the economic performance.

Frequency

This indicator is released monthly, with the final report typically published on the first business day of the month following the survey period, providing updated and refined data after initial estimates are issued.

Why Do Traders Care?

Traders pay close attention to the HCOB Composite PMI Final as it serves as a leading indicator for economic performance, influencing market sentiment towards the Euro and German equities. Positive results may lead to bullish trends in currencies and stocks, while disappointing figures could temporarily dampen investor confidence in risk assets.

What Is It Derived From?

The HCOB Composite PMI Final is derived from surveys conducted among purchasing managers from approximately 600 companies across the manufacturing and services sectors in Germany. The indices are calculated using a weighted average of various components, based on criteria such as production levels, employment, and new orders to reflect the overall climate of business activity.

Description

The distinction between preliminary and final reports is significant; preliminary figures are based on early data collection and are subject to revision, while final figures reflect a more comprehensive analysis of responses and are deemed more accurate. Because of its timely release, financial markets often react strongly to the preliminary data, but adjustments in market sentiment may occur once final data is published.

Additional Notes

The HCOB Composite PMI Final is considered a coincident economic indicator, offering insights that correlate closely with actual economic performance. It provides context for other economic measures, such as GDP growth or inflation rates, allowing economists and analysts to interpret broader economic trends in relation to Germany's performance.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for EUR, Bullish for German Stocks. Lower than expected: Bearish for EUR, Bearish for German Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Dec 03, 2025		52.1
Nov 05, 2025		53.8
Oct 03, 2025		52.4
Sep 03, 2025		50.9
Aug 05, 2025		50.3
Jul 03, 2025		50.4
Jun 04, 2025		48.6
May 06, 2025		49.7
Apr 03, 2025		50.9
Mar 05, 2025		51
Feb 05, 2025		50.1
Jan 06, 2025		47.8
Dec 04, 2024	47.2	47.3	48.6	-0.1
Nov 06, 2024	48.6	48.4	47.5	0.2
Oct 03, 2024	47.5	47.2	48.4	0.3
Sep 04, 2024	48.4	48.5	49.1	-0.1
Aug 05, 2024	49.1	48.7	50.4	0.4
Jul 03, 2024	50.4	50.6	52.4	-0.2
Jun 05, 2024	52.4	52.2	50.6	0.2
May 06, 2024	50.6	50.5	47.7	0.1
Apr 04, 2024	47.7	47.4	46.3	0.3
Mar 05, 2024	46.3	46.1	47	0.2
Feb 05, 2024	47	47.1	47.4	-0.1
Jan 04, 2024	47.4	46.7	47.8	0.7
Dec 05, 2023	47.8	47.1	45.9	0.7
Nov 06, 2023	45.9	45.8	46.4	0.1
Oct 04, 2023	46.4	46.2	44.6	0.2
Sep 05, 2023	44.6	44.7	48.5	-0.1
Aug 03, 2023	48.5	48.3	50.6	0.2
Jul 05, 2023	50.6	50.8	53.9	-0.2
Jun 05, 2023	53.9	54.3	54.2	-0.4
May 04, 2023	54.2	53.9	52.6	0.3