23.09.202607:39:51UTC+00German Services Sector Returns to Growth

The S&P Global Germany Services PMI climbed to a seven-month high of 52.9 in September 2026, up from 49.7 in August. The reading came in well above market expectations of 50, signalling a renewed expansion in services activity after five consecutive months of contraction.

New business rose at its fastest pace in almost a year, while outstanding business increased for a second straight month. The buildup of unfinished orders and projects was the strongest since May 2022, pointing to improving demand and growing pressure on operating capacity. In response, service providers stepped up hiring during the month.

On the price front, inflation accelerated as services firms implemented sharper price increases. Nonetheless, despite stronger activity and demand indicators, business sentiment softened slightly in September, indicating a degree of caution about the outlook.