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German business activity growth quickens in January, but labour market conditions deteriorate
Business activity growth regained some momentum across Germany’s private sector at the start of the year, according to the latest ‘flash’ HCOB PMI® survey, with output levels rising at the quickest rate for three months. The upturn was supported by a renewed increase in inflows of new orders. However, despite business expectations for the year ahead also improving, January saw a deterioration in labour market conditions as employment fell at the quickest rate since mid-2020 and across both services and manufacturing. The latest data meanwhile showed a steep and accelerated rise in businesses’ input costs, ... (full story)
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- Jan 23, 2026 2:33am Posted by
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