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21.11.202508:41:55UTC+00German Manufacturing Downturn Unexpectedly Deepens

The HCOB Germany Manufacturing PMI slipped to 48.4 in November 2025, down from 49.6 in October. This figure fell short of the anticipated rise to 49.8, representing the steepest decline in six months, as indicated by preliminary estimates. Output growth decelerated to its slowest since July, while new orders dropped for the second time in three months, primarily due to a pronounced decrease in export sales. Manufacturing backlogs also continued to diminish, indicating eased capacity pressures. Employment within the sector saw a further decline, with staffing levels reducing at a slightly quicker rate than observed in October. As for pricing, factory gate charges decreased for the first time in four months, and purchase prices continued to fall albeit modestly, marking one of the weaker reductions in the ongoing downward trend. Despite these adversities, manufacturers displayed increased business confidence, with optimism about production for the upcoming year reaching its highest level in three months.

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