FX.co ★ Germany’s Services Activity Edges Toward Growth as HCOB PMI Rises in July

Germany’s services sector showed signs of stabilisation in July 2026, with the HCOB Germany Services PMI inching closer to the growth threshold. The index rose to 49.6 in July from 48.6 in June 2026, according to the latest data updated on 24 July 2026.

Although the PMI remains just below the 50.0 mark that separates expansion from contraction, the one-point increase suggests that the downturn in Germany’s services activity may be easing. The improvement indicates a slower pace of decline compared with the previous month, hinting at a potential turning point for the sector if momentum continues in the coming periods.

Investors and policymakers will be watching upcoming readings closely to see whether July’s uptick marks the beginning of a sustained recovery or merely a temporary pause in services sector weakness.