The S&P Global Eurozone Composite PMI fell to 51.9 in October 2026, down from September’s three-and-a-half-year high of 53.1 and below market expectations of 52.7, according to the preliminary estimate. Although business activity expanded for a fourth consecutive month, growth slowed to its weakest pace in the sequence, partly driven by a renewed contraction in French services activity. While strikes and unrest may have disrupted local economic activity in France, growth also eased across the rest of the eurozone, affecting both manufacturing and services. Meanwhile, new order growth weakened, bringing hiring close to stagnation, while rising energy prices drove input costs higher and prompted firms to increase selling prices. Higher interest rates also dampened demand, reinforcing concerns over slowing growth and persistent inflation that could fuel expectations of further ECB tightening. Finally, business confidence fell to a five-month low. source: S&P Global

Composite PMI In the Euro Area decreased to 51.90 points in October from 53.10 points in September of 2026. Composite PMI in Euro Area averaged 51.50 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 decreased to 51.90 points in October from 53.10 points in September of 2026. Composite PMI in Euro Area is expected to be 50.80 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.


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Components Last Previous Unit Reference
S&P Global Manufacturing PMI 52.40 52.90 points Oct 2026
S&P Global Services PMI 51.70 53.00 points Oct 2026

Related Last Previous Unit Reference
Bankruptcies QoQ 6.90 -2.30 percent Jun 2026
Business Confidence -0.06 -0.24 points Sep 2026
Capacity Utilization 77.90 78.50 percent Sep 2026
Car Registrations 810088.50 798141.40 Units Aug 2026
Changes in Inventories 10.48 28.89 EUR Billion Jun 2026
Industrial Production YoY -1.10 -0.30 percent Aug 2026
Industrial Production MoM -0.50 -0.30 percent Aug 2026
Industrial Sentiment -3.80 -5.00 points Sep 2026
Manufacturing Production -1.70 -0.80 percent Aug 2026
Mining Production -4.40 -2.70 percent Aug 2026
Services Sentiment 6.10 5.60 points Sep 2026
ZEW Economic Sentiment Index 18.50 25.80 points Oct 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 Business Activity Growth Slows
The S&P Global Eurozone Composite PMI fell to 51.9 in October 2026, down from September’s three-and-a-half-year high of 53.1 and below market expectations of 52.7, according to the preliminary estimate. Although business activity expanded for a fourth consecutive month, growth slowed to its weakest pace in the sequence, partly driven by a renewed contraction in French services activity. While strikes and unrest may have disrupted local economic activity in France, growth also eased across the rest of the eurozone, affecting both manufacturing and services. Meanwhile, new order growth weakened, bringing hiring close to stagnation, while rising energy prices drove input costs higher and prompted firms to increase selling prices. Higher interest rates also dampened demand, reinforcing concerns over slowing growth and persistent inflation that could fuel expectations of further ECB tightening. Finally, business confidence fell to a five-month low.
2026-10-23
Eurozone Output Growth Confirmed at 3-1/2-Year High
The S&P Global Eurozone Composite PMI rose to 53.1 in September 2026 from 52 in August, matching the flash estimate and reaching its highest level in nearly three and a half years. The latest reading pointed to a solid acceleration in private-sector activity, with both manufacturing and services recording stronger growth as the third quarter ended. Demand also improved, with new orders rising at the fastest pace in 41 months and foreign orders increasing at their strongest rate in more than four and a half years. Capacity constraints became more apparent, as backlogs increased for the first time since June 2022, prompting companies to expand their workforces again. Business confidence remained positive but relatively subdued. Meanwhile, inflationary pressures intensified, with input costs and selling prices rising at their fastest rates since May.
2026-10-05
Eurozone Output Growth Hits Three-and-a-Half-Year High
The S&P Global Eurozone Composite PMI rose to 53.1 in September 2026, up from 52.0 in August and above market expectations of 51.7, according to a preliminary estimate. The latest reading marked a third consecutive month of expansion in business activity, with growth accelerating to its fastest pace in almost three-and-a-half years. Growth strengthened across both manufacturing and services, reaching 55- and 10-month highs, respectively. Germany expanded for a third straight month at its fastest pace in just under a year, while France returned to growth for the first time in 10 months. New orders rose at their fastest pace since May 2022, driving the first increase in backlogs since June 2022. Employment also increased, although the pace of job creation remained modest. Meanwhile, inflationary pressures intensified, with input costs and output prices rising at their fastest rates in four months. Business confidence weakened again and remained relatively subdued.
2026-09-23