23.09.202607:46:42UTC+00Germany Manufacturing Growth Eases Slightly in September

The S&P Global Germany Manufacturing PMI slipped to 53.8 in September 2026 from 54.3 in August—a more than four-year high—and came in slightly below market expectations of 54, according to a preliminary estimate. Despite the downtick, the index continued to indicate a solid expansion in the manufacturing sector. Producers registered another month of strong output growth, with the production index at 55.9, though the pace moderated from August’s 55-month peak. This was accompanied by a further robust rise in new factory orders. At the same time, employment moved closer to stabilisation, with payrolls posting their smallest decline since September 2023. On the price side, input cost inflation remained elevated, partly reflecting higher energy prices, while factory-gate price inflation eased to its lowest rate in six months. Looking ahead, business confidence strengthened.