FX.co ★ Germany’s Services Momentum Cools as HCOB PMI Slips in March

Germany’s services sector lost some momentum in March, with the HCOB Germany Services PMI easing to 51.2 from 53.5 in February 2026. The latest reading, updated on 24 March 2026, still signals expansion, but at a slower pace.

The decline suggests that while activity in Germany’s services industry continues to grow, the pace of improvement has moderated compared with the previous month. The shift from 53.5 to 51.2 indicates softer business conditions heading into spring, as the sector remains just above the 50-point threshold that separates expansion from contraction.