The S&P Global Eurozone Composite PMI rose to 51.9 in July 2026 from 50.0 in June, well above market expectations of 50.3, a preliminary estimate showed. The reading signaled the first expansion in business activity in four months, supported by a renewed expansion in services and the fastest increase in manufacturing output since March 2022. Germany grew for the first time in four months, while France's downturn eased to a marginal contraction. Elsewhere, the rest of the eurozone recorded its strongest expansion in eight months. New orders rose at the fastest pace since April 2023, while export orders posted their smallest decline since March 2022. Employment increased for the first time this year, supply-chain pressures eased, allowing manufacturers to rebuild input inventories for the first time in three-and-a-half years, and both input cost and output price inflation moderated. Business confidence also improved to a five-month high, although it remained below pre-conflict levels. source: S&P Global

Composite PMI In the Euro Area increased to 51.90 points in July from 50 points in June of 2026. Composite PMI in Euro Area averaged 51.48 points from 2012 until 2026, reaching an all time high of 60.20 points in July of 2021 and a record low of 13.60 points in April of 2020. This page provides the latest reported value for - Euro Area Composite PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Composite PMI In the Euro Area increased to 51.90 points in July from 50 points in June of 2026. Composite PMI in Euro Area is expected to be 49.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Composite PMI is projected to trend around 52.20 points in 2027, according to our econometric models.




Components Last Previous Unit Reference
S&P Global Manufacturing PMI 52.00 51.40 points Jul 2026
S&P Global Services PMI 51.60 49.40 points Jul 2026

Related Last Previous Unit Reference
Bankruptcies QoQ 0.40 2.60 percent Mar 2026
Business Confidence -0.19 -0.36 points Jul 2026
Capacity Utilization 78.50 77.60 percent Jun 2026
Car Registrations 801936.60 797368.40 Units May 2026
Changes in Inventories 28.52 31.70 EUR Billion Mar 2026
Industrial Production YoY -1.20 0.40 percent May 2026
Industrial Production MoM -0.20 0.30 percent May 2026
Industrial Sentiment -6.10 -7.50 points Jul 2026
Manufacturing Production -1.30 0.40 percent May 2026
Mining Production -3.10 -4.50 percent May 2026
Services Sentiment 4.70 4.20 points Jul 2026
ZEW Economic Sentiment Index 23.40 9.50 points Jul 2026


Euro Area Composite PMI
The S&P Global Eurozone Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, is compiled by S&P Global from responses to questionnaires sent to survey panels of manufacturers in Germany, France, Italy, Spain, the Netherlands, Austria, Ireland and Greece, and of service providers in Germany, France, Italy, Spain and Ireland, totaling around 5,000 private sector companies. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Eurozone Private Sector Activity Returns to Growth
The S&P Global Eurozone Composite PMI rose to 51.9 in July 2026 from 50.0 in June, well above market expectations of 50.3, a preliminary estimate showed. The reading signaled the first expansion in business activity in four months, supported by a renewed expansion in services and the fastest increase in manufacturing output since March 2022. Germany grew for the first time in four months, while France's downturn eased to a marginal contraction. Elsewhere, the rest of the eurozone recorded its strongest expansion in eight months. New orders rose at the fastest pace since April 2023, while export orders posted their smallest decline since March 2022. Employment increased for the first time this year, supply-chain pressures eased, allowing manufacturers to rebuild input inventories for the first time in three-and-a-half years, and both input cost and output price inflation moderated. Business confidence also improved to a five-month high, although it remained below pre-conflict levels.
2026-07-24
Eurozone Private Sector Output Stabilizes in June
The S&P Global Eurozone Composite PMI was revised up to 50.0 in June 2026, from a preliminary 49.5 and above May’s 48.5, marking a stabilization in private sector output after two months of decline. Manufacturing production growth offset a slower but continued drop in services activity. Italy, Spain, and Ireland drove the recovery with sharper expansions in business activity, while Germany and France, though still in contraction, saw their rates of decline ease. New business volumes fell for a fourth month, but the contraction was marginal and the joint-slowest since March. Employment remained virtually unchanged after the steepest drop in five and a half years, and backlogs depleted at a slightly slower pace than in April and May, though still among the fastest of the past year. Input and output costs rose sharply but at a slower rate than recent peaks, while business confidence reached its highest level since the outbreak of war in the Middle East.
2026-07-03
Euro Area Private Sector Slide Eases
The S&P Global Flash Eurozone Composite PMI increased to 49.5 in June 2026 from 48.5 in May, compared to forecasts of 49.1. It is the highest reading in three months, pointing to a smaller contraction in private sector activity. The services drop also eased (47.7 vs 48.9) while manufacturing output growth slowed to a five-month low (51.2 vs 51.3). There was a sustained fall in new orders and a slight drop in employment. Meanwhile, there were signs of inflationary pressures softening, with input costs rising at the slowest pace since the outbreak of war in the Middle East and output charges increasing at the weakest rate in three months. Manufacturers continued to signal sharply lengthened suppliers' delivery times, while the recent spell of rising purchasing activity came to an end. In addition, business confidence ticked up for the second month running.
2026-06-23