The IHS Markit Eurozone Composite PMI fell to 54.3 in October 2021, from 56.2 in the previous month and below market expectations of 55.2, a preliminary estimate showed. The latest reading pointed to the slowest pace of expansion in the Eurozone private sector business activity, amid increasing supply bottlenecks and ongoing COVID-19 concerns. By sector. the manufacturing sector posted the weakest increase in production seen over the past 16 months, while the service sector growth eased to a six-month low. New orders rose the least since April, while the pace of job creation matched July’s two-decade high and backlogs of work continued to rise at an elevated pace. Survey-record price increases were meanwhile reported as firms sought to pass an unprecedented rise in costs on to customers. Finally, future sentiment moderated for a fourth consecutive month to the lowest since February. source: Markit Economics
Composite PMI in the Euro Area averaged 51.89 points from 2012 until 2021, 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 October of 2021.
Composite PMI in Euro Area is expected to be 54.70 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 54.90 points in 2022 and 53.70 points in 2023, according to our econometric models.