The S&P Global Eurozone Composite PMI was revised higher to 49.9 in July of 2022 from a preliminary of 49.4, but still pointed to the first contraction in private sector activity since February of 2021. Manufacturing shrank for the first time in two years (49.8) and services activity slowed sharply (51.2). At the same time, there were additional signs of the negative impact that high inflation was having on demand as overall new business intakes fell at a rate which, excluding those seen during COVID-19 lockdowns, was the steepest since May 2013. There was however a slight cooling of inflationary pressures. Further evidence of economic weakness was also seen in new export orders, which fell at the strongest pace for just over two years. Finally, business confidence was the lowest since the first half of 2020, amid growing concerns surrounding future gas supply, risks of a recession in Europe and persistently high price pressures. source: Markit Economics
Composite PMI in the Euro Area averaged 52.03 points from 2012 until 2022, 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. Euro Area Composite PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Composite PMI in Euro Area is expected to be 51.90 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 54.40 points in 2023 and 53.70 points in 2024, according to our econometric models.