HCOB’s PMI
The HCOB Purchasing Managers’ Index® (PMI®): Leading economic indicator for the eurozone, Germany, France, Italy and Spain
Hamburg Commercial Bank (HCOB) is the namesake of various S&P Global (S&P) Purchasing Managers’ Indexes® (PMI®), which are also known in Germany as the Purchasing Managers’ Index® (EMI®). These indices, which have existed since the late 1990s, are regarded as reliable indicators of economic development. This publication, in which Dr. Cyrus de la Rubia and his team comment on and contextualise the developments in individual countries for you, is produced in cooperation with S&P Global
PMI briefly explained
Hamburg Commercial Bank (HCOB) has lent its name to various S&P Global (S&P) Purchasing Managers’ Indexes® (PMI®), which are also known in Germany as the Purchasing Managers’ IndexTM (EMITM). These indices, which have existed since the late 1990s, provide insights into economic health and are regarded as reliable leading indicators of economic development.
For whom are the indices relevant?
First and foremost for companies and investors. The S&P Global PMI provides valuable information allowing companies, financial experts and investors to make informed decisions. It enables a precise assessment of the current economic situation and help to forecast future trends.
What questions does the PMI answer?
- What about production activity?
- What developments can be expected in the labor market and in employment?
- What changes have there been in incoming orders?
- Which regions are showing the strongest economic growth?
- In which sectors are prices rising or falling the most?
How is the PMI calculated?
The PMI is based on surveys of purchasing managers in various sectors. The index values reflect assessments of various economic indicators.
How often is the PMI published?
The PMI is published monthly and thus provides up-to-date insights into the economic situation.
What scale does the PMI have?
The PMI has a scale from 0 to 100. Values above 50 indicate expansion, while values below 50 indicate contraction.
How do I interpret the PMI for my company?
The interpretation depends on the sector, but in general a rising PMI value indicates a positive economic trend while a falling value can indicate potential challenges.
No relief in sight
No real recovery
Poor start into the second half-year
Is the economy finally picking up?
The economy is improving
Positive signals from the eurozone
Eurozone hopes for services
Recovery comes from the south
Downturn loses pace
Weakness at the end of the year
Fragile year 2023
Recessionary annual financial statements
Eurozone is stuck
Poor start to the final quarter
Recession has begun
Stagflation!
Surprisingly large weakness in the service sector
Eurozone faces recession in all sectors
Poor start to the second half of the year
Downturn reaches the service sector
The likelihood of a prolonged recession has increased
Services sector likely to save eurozone from recession
Recession in the industry
Between fear and hope – the PMIs paint a mixed picture of the situation in the construction industry
Significant weaknesses
Tourism in Southern Europe drives growth in the service sector
Weak demand from industry
HCOB Flash Eurozone PMI
HCOB PMI Download
We sponsor creation of the composite (overall) PMI, flash versions and indices for manufacturing and services for the eurozone, Germany, France, Italy and Spain. In addition, PMIs for the construction industry in the eurozone, Germany, France and Italy are published under our name. The reports are provided in English and in the respective national language.
This publication gives you a particularly up-to-date and comprehensive assessment of the economic situation in the eurozone, based on this month’s HCOB PMI Purchasing Managers’ Index for Germany, France, Italy and Spain. This covers the manufacturing, services and construction sectors.
The Eurozone stagnates
Economic Strain Continues in September
Subdued sentiment despite Olympics effect
The economic recovery is faltering
The industrial recovery remains sluggish
Germany and France back in the growth zone
Germany and France back in the growth zone
Germany and France back in the growth zone
Finally growth again
Improved outlook
The south leads the recovery
Broad based slowdown
Recessionary year-end
Rough start to the fourth quarter
Unpleasant but not hopeless
Stagflation
Eurozone faces recession in all sectors
Downturn reaches services sector
Eurozone: Housing sector under particular pressure
Eurozone: Services sector remains relatively robust
Eurozone: Manufacturing sector suffers from weak demand
Eurozone: Pronounced weakness in the construction sector
Eurozone: Tourism in Southern Europe drives growth in services
Do you have general questions about our range of services or would you like to inquire about financing directly?
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Would you like to gain interesting insights into PMI?
Dr. Cyrus de la Rubia
Economics, Chief EconomistArrange a consultation appointment
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