3 June 2025 | Euro

German production volumes and export orders rose in May

German production volumes and export orders rose in May

In May, manufacturing activity in Germany declined. However, this sector saw growth in output volumes for the third month in a row, driven by an ongoing increase in new export orders.

Germany's Manufacturing Purchasing Managers' Index stood at 48.3 in May, slightly below April's figure of 48.4. The index has remained below 50, the threshold dividing decline from growth, for 35 consecutive months.

International sales grew at a moderate pace in May. At the same time, demand for German goods increased in Europe, and sales expanded in the United States. According to Reuters, this was partly due to the accumulation of product inventories ahead of a potential increase in US import tariffs.

Employment in Germany continued to shrink, though at the slowest rate since January 2024. Purchasing activity nearly stabilized, showing the smallest drop since mid-2022. Business expectations recovered in May, reaching their highest level since February 2022 thanks to hopes for increased government spending and a potential US-EU trade agreement.

Elena Berseneva MarketCheese
Period: 23.11.2026 Expectation: 170 pips
Buy Brent crude with $120 in sight
23 October 2026 34
Gold sell
Period: 06.11.2026 Expectation: 120 pips
Gold sell-off targets $3,890
23 October 2026 30
Period: 22.11.2026 Expectation: 145 pips
Invest in S&P 500 with 7,845 in mind
22 October 2026 44
Period: 22.11.2026 Expectation: 2400 pips
Sell Bitcoin down to $80,500
22 October 2026 40
Period: 04.11.2026 Expectation: 2700 pips
Go long on NVIDIA stock with $243 in view
21 October 2026 59
Period: 04.11.2026 Expectation: 1300 pips
EURUSD sell-off targets 1.0000
21 October 2026 58
Go to forecasts