HCOB Manufacturing PMI

The Manufacturing Purchasing Managers Index (PMI) released by the S&P Global and Hamburg Commercial Bank (HCOB) captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 is bullish for the Euro, whereas a result below 50 is seen as bearish.