Germany's recent PMI figures paint a complicated picture of its economic health. The Composite PMI Output Index rose to 52.2 in May from 50.6 in April, marking a 12-month high. Similarly, the Services PMI Business Activity Index reached 53.9, an 11-month high, up from 53.2 in April. However, the manufacturing sector remains in contraction, with a PMI of 48.9, although this is an improvement from April's 45.4. Despite these mixed signals, there is no indication of a policy change. This suggests that while some sectors show signs of growth, the overall economic environment remains stagnant.