Alemania - PMI Compuesto

The IHS Markit Germany Composite PMI was revised higher to 50.2 in December of 2019 from a preliminary of 49.4 and 49.4 in the previous month. The reading pointed to the first gain in private sector activity in four months, mainly due to a rebound in services (52.9 from 51.7) while manufacturing contracted further (43.7 from 44.1). New business declined only marginally and at the slowest rate in the current six-month sequence of decrease, helped by a modest upturn in demand across the service sector and a further moderation in the rate of decline in total new export business. Employment showed little change as further job gains in services were again offset by manufacturing staff cuts. Also, backlogs of work fell and price pressures moderated. Finally, output expectations improved to a ten-month high, buoyed by increased optimism across both monitored sectors (although confidence was notably stronger among service providers). from 49.40 points in November of 2019.

The IHS Markit Germany Composite PMI was at 49.4 in December 2019, unchanged from the previous month and compared with market consensus of 49.9, a preliminary estimate showed. The latest reading pointed to the fourth consecutive month of contraction in the private sector, as manufacturing output shrank further (PMI at 43.4 vs 44.1 in November) while services activities rose to a 4-month high (PMI at 52 vs 51.7 in November). New orders dropped for the sixth straight month, still the decline was the least marked since July. Goods producers recorded the smallest decrease in new export orders for almost a year, with the downturn in services new export business also easing. Outstanding business fell with the rate of backlog depletion remaining marked by historical standards, while the job creation rate was unchanged. On the price front, input cost fell further while output cost inflation slowed to an over 3-year low. Lastly, sentiment improved to a 6-month high.

The IHS Markit Germany Composite PMI increased to 49.4 in November 2019 from 48.9 in the previous month and above preliminary estimates of 49.2, a final reading showed. Still, it is the third consecutive month of contraction in the private sector, as manufacturing output continued to shrink (PMI at 44.1 from 42.1 in October) while services activity growth advanced slightly (PMI at 51.7 from 51.6). New export orders dropped the least in ten months while new orders fell for the fifth month running in November. On the other hand, job creation growth rebounded after falling in October for the first time in six years. On the price front, output charges rose modestly during the month, while input cost inflation eased to a 43-month low. Finally, expectations towards output in the next 12 months turned positive for the first time in four months.

The IHS Markit Germany Composite PMI increased to 49.2 in November 2019 from 48.9 in the previous month and below market expectations of 49.4, preliminary estimates showed. Still, it is the third consecutive month of contraction in the private sector, as manufacturing output continued to shrink and services activity growth slowed to a 38-month low. New orders went down for the fifth straight month while exports orders decreased at softer pace. Job creation was virtually unchanged after falling in October for the first time in six years. Also, lower backlogs of work were reported for the thirteenth month running. In terms of prices, output charge inflation was modest, staying close to October's 38-month low. Meanwhile, expectations towards output in the next 12 months turned positive for the first time in four months.

The IHS Markit Germany Composite PMI came in at 48.9 in October 2019, higher than a preliminary estimate of 48.6 and compared to 48.5 in the previous month. The reading pointed to the second consecutive monthly contraction in the private sector, as the downturn in output remained centred on the manufacturing sector, where production fell at one of the fastest rates since mid-2009. Also, new business declined for the fifth time in the past six months, albeit at a slower pace and new export orders remained weak. Additionally, employment dropped after a prolonged slowdown in job creation, the decrease in workforce numbers was the first in six years. Backlogs of work went down for the twelfth straight month. On the price front, both input and output costs rose at the softest pace since 2016. Finally, pessimism towards future output was recorded in October, as expectations deteriorated to the second lowest since November 2012.

The IHS Markit Germany Composite PMI increased to 48.6 in October 2019 from 48.5 in the previous month and slightly below market expectations of 48.8, preliminary estimates showed. Still, it is the second straight monthly contraction in the private sector. New orders dropped for the fifth time in the past six months; new export orders contracted for the fourteenth straight month; and employment fell, albeit only slightly, for the first time in six years. Meanwhile, firms reduced backlogs of work for the twelfth month in a row and at the quickest rate for nearly seven years. On the price front, inflationary pressures softened, as input prices rose at the slowest rate for over three years and input prices showed the smallest increase for three-and-a-half years. Looking ahead, business confidence turned increasingly negative, with expectations falling to the lowest since November 2012.