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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
GermanyGermany S&P Global Construction PMI climbed to 48.7 in August 2026
FMPMonthlyReleased September 2026
Germany S&P Global Construction PMI climbed to 48.7 in August 2026, released September 2026, up 6.6 from July's 42.1 reading. The print exceeded the 42 consensus by 6.7.
Latest Release
48.700000
Actual
42.000000
Consensus
42.100000
Previous
Median Absolute Error
±2.6
across last 5 releases
Last Call
Sep 2026
Predicted: 41.98
Actual: 48.7
Error: -6.73
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| DAX | ▲ Direct | +0.55 | INDEX | Moves with | → View |
| EUR/USD | ▲ Direct | +0.50 | FOREX | Moves with | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.40 | FOREX | Moves with | → View |
| EUR/CHF | ▲ Direct | +0.35 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Construction PMI (Germany) was reported at 48.70 in August 2026. This beat the market consensus of 42.00 by 6.70. The reading rose from the previous value of 42.10.
WHY IT MATTERS
The trailing three releases averaged 45.20, up from the prior three at 40.77.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with DAX (Bullish DE). A secondary relationship exists with EUR/USD, positively correlated (Bullish EUR).
WHAT TO WATCH NEXT
The next release is scheduled for October 6, 2026. Same-country events in the next 14 days include Wholesale Prices MoM (Sep 15) and Wholesale Prices YoY (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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S&P Global Construction PMI - DE
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About S&P Global Construction PMI — Germany
DEFINITION
The S&P Global Construction PMI is a widely recognized financial indicator that measures the performance of the global construction industry. It provides valuable insights into the current and future trends of the sector, including changes in output, new orders, employment, and business confidence. This indicator is used by investors, analysts, and policymakers to assess the health of the construction industry and make informed decisions. With its comprehensive coverage and timely updates, the S&P Global Construction PMI is an essential tool for understanding the state of the global economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 48.7, consensus 42. Prior reading (Jul 2026): 42.1. Before that (Jun 2026): 44.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with DAX (Bullish DE, r=0.55) — a useful reference for index-focused traders.
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Economic Calendar - DE Events
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | DE | Wholesale Prices MoM | 0.2 | 0.1 | 0.10 | Medium | |
| 06:00 | DE | Wholesale Prices YoY | 5.3 | 6.2 | 6.20 | Medium | |
| 09:00 | DE | ZEW Economic Sentiment Index | 34.2 | 37 | 45.25 | High | |
| 09:00 | DE | ZEW Current Conditions | -61.1 | -52.2 | -53.70 | Low | |
| 09:00 | DE | Economic Sentiment | 34.2 | 42.7 | 50.85 | Medium | |