German service sector growth eases in January but remains resilient
German service providers saw continued growth in January as new export business surged. However, employment levels dipped amid rising labor and energy costs.
Insights:
The final HCOB Germany Services Purchasing Managers Index (PMI) for January was released on February 4, 2026, with a reading of 52.4. This indicates that Germany's service sector continued to expand into the start of the year, according to the latest data for Germany 
DE, although the pace of expansion has slowed. This services upturn was a key driver that helped lift the final HCOB composite PMI for January.
DE, although the pace of expansion has slowed. This services upturn was a key driver that helped lift the final HCOB composite PMI for January.