FX.co ★ Germany’s HCOB Composite PMI Edges Higher to 52.1 in January

Germany’s HCOB Composite Purchasing Managers’ Index (PMI) ticked up in January, suggesting a modest strengthening in overall private-sector activity. The composite reading rose to 52.1, compared with 51.3 previously, with both figures recorded for January 2026.

The latest data, updated on 4 February 2026, indicate that German business activity stayed above the 50-point threshold that separates expansion from contraction, and that momentum improved slightly over the month. The rise in the composite PMI points to a firmer pace of growth across Germany’s combined manufacturing and services sectors, underscoring a gradual, if still modest, recovery in economic conditions.