German business activity growth softens in November | Metals Mine

  • German business activity growth softens in November

    From pmi.spglobal.com

    Germany’s private sector saw a loss of momentum in November, with companies recording slower increases in both business activity and new orders, according to the latest ‘flash’ HCOB PMI® survey. After coming close to stabilising the month before, employment meanwhile fell at a quicker rate amid a renewed decline in backlogs of work. Firms’ expectations for the year ahead were broadly unchanged, with stronger optimism among manufacturers being largely offset by weaker sentiment in the service sector. In line with slower growth in activity and demand, the latest data showed the rate of output price inflation ... (full story)

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Trader#A306
Nov 21, 2025 3:45am
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Look, I get that you're excited about your shiny new PMI data like a kid who just discovered economic indicators exist, but let me help you out here since reading comprehension apparently isn't your strong suit.
52.1 is still expansion, genius. Yeah, it slowed from 53.9 - congratulations on discovering that numbers can go down while still being above 50. That's called "moderating growth," not "the sky is falling." Germany's been the sick man of Europe for like two years now - this isn't news, it's a rerun.
Manufacturing at 48.4? Yeah, no shit. German manufacturing has been getting its teeth kicked in since 2022 thanks to energy costs, China competition, and the automotive sector face-planting into the EV transition. You're acting like you just uncovered Watergate when you're really just reading last year's headlines in slow motion.
"ECB saying rates are appropriate" - Yeah, because they're data-dependent, not crystal-ball-dependent. They've already cut 150bps from peak and the composite PMI is still in expansion territory. What do you want them to do, panic-cut to zero because one country's manufacturing sector is struggling while services are literally still growing?
"This keeps medium-term easing on the table" - Wow, central banks keep policy optionality open? STOP THE PRESSES. This is like announcing that water is wet.
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Trader#E14A
Nov 21, 2025 3:12am
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Quoting Trader#A306
Germany Economy above all!
You are dumb

Germany PMI = growth losing momentum again

From the HCOB Flash Germany PMI:
Composite PMI: 52.1 (down from 53.9) – still >50 but growth slowed sharply.

Services: 52.7 (54.6 prior) – expansion, but cooling.

Manufacturing PMI: 48.4 (49.6 prior) – deeper in contraction.

New factory orders fell again, exports dropped faster, and employment resumed falling.

Their chief economist sums it up as:

“The German economy is limping towards marginal growth at best in the fourth quarter.”

So you’ve got:

ECB saying “rates are appropriate”,

While Germany – the core of the euro area – is slowing again, with manufacturing back in trouble.

For EU, this just keeps medium-term easing on the table if growth and labour weaken further.
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Trader#00AC
Nov 21, 2025 4:29am
Permalink
yes true...but you know, they made contracts with Russia and it's now over for good reasons, they made contracts with China and it's now over for other good reasons...I means, they tried to pact with the devil several times rather than building/cooperating with other european countries from the inside...so I guess that if we see this slowdown in the DE economy then:
1- It's understandable, they made pretty bad choice
2- A retracement in the figure is not something that would not have been predicatable given the macro-economic and socio-economi actual trends

No surprise in there! They should stop working solo and colaborate more with other european countries. A country alone cannot deal against US and CN, we need to be stronger together.
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Trader#05C8
Nov 21, 2025 5:17am
Permalink
Quoting Trader#A306
Look, I get that you're excited about your shiny new PMI data like a kid who just discovered economic indicators exist, but let me help you out here since reading comprehension apparently isn't your strong suit. 52.1 is still expansion, genius. Yeah, it slowed from 53.9 - congratulations on discovering that numbers can go down while still being above 50. That's called "moderating growth," not "the sky is falling." Germany's been the sick man of Europe for like two years now - this isn't news, it's a rerun. Manufacturing at 48.4?...
you are proving his point of being dumb

Look at eurusd lol

Huge downside surprise. Expected 2.45% we got 1.87% that’s not just a small miss but a sharp deceleration from 4%. With wage growth collapsing, ECB has zero incentive to hike again. They will sit on their hands long enough until they are forced to cut again that’s the path they are on. The debate is literally how long do we stay on a hold before we cut.

Don’t lose all your money
Reply
Trader#8D59
Nov 21, 2025 5:22am
Permalink
Quoting Trader#00AC
yes true...but you know, they made contracts with Russia and it's now over for good reasons, they made contracts with China and it's now over for other good reasons...I means, they tried to pact with the devil several times rather than building/cooperating with other european countries from the inside...so I guess that if we see this slowdown in the DE economy then: 1- It's understandable, they made pretty bad choice 2- A retracement in the figure is not something that would not have been predicatable given the macro-economic and socio-economi actual...
Agreed. Good take.

Merz is old Germany isolationism and will be their downfall if they don’t play a bigger cooperative roll within Europe. He is more focused on war, buying weapons, Russia and Ukraine than the future growth of his country and the region
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Trader#A306
Nov 21, 2025 2:34am
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Germany Economy above all!
Reply
Trader#AFA1
Nov 21, 2025 3:11am
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bad)
Reply
Trader#E14A
Nov 21, 2025 5:45am
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Quoting Trader#A306
Germany Economy above all!
silly comment. open your eyes
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