---
title: "Germany · HCOB Services PMI: 48.5 · Aug 21, 2026"
description: "US data, Aug 21, 2026: actual 48.5, forecast 50.1, previous 49.8 · BELOW FORECAST. Captured seconds after release with the live Treasury and equity reaction."
source: Helious
canonical: "https://helious.io/news/rel-ev-1fc6db50d0df5fe2/germany-hcob-services-pmi-48-5"
---

Economic release
              21 Aug 2026, 07:30 UTC



# Germany · HCOB Services PMI: 48.5




           Actual48.5
           Forecast50.1
           Previous49.8

               Surprise
               -1.78σ

           VerdictBELOW FORECAST
           ReadBunds BULLISH · Equities BEARISH


            Germany · HCOB Services PMI — Actual 48.5, forecast 50.1, prev 49.8. Surprise: BELOW FORECAST by 1.8 sigma. Desk read: Bunds BULLISH · Equities BEARISH.






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