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.

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Euro Area Composite PMI



Related Last Previous Unit Reference
Services PMI 51.20 53.00 points Jul 2022
Manufacturing PMI 49.80 52.10 points Jul 2022
Composite PMI 49.90 52.00 points Jul 2022

Euro Area Composite PMI
In the Euro Area, the Markit Eurozone PMI Composite Output Index tracks business trends across both the manufacturing and service sectors, based on data collected from a representative panel of over 5,000 companies (60 percent from the manufacturing sector and 40 percent from the services sector). The index tracks variables such as sales, new orders, employment, inventories and prices. National data are included for Germany, France, Italy, Spain, Austria, the Netherlands, Greece and the Republic of Ireland. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
49.90 52.00 60.20 13.60 2012 - 2022 points Monthly

News Stream
Euro Area Private Sector Activity Shrinks for 1st Time since February 2021
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.
2022-08-03
Eurozone Private Sector Activity Contracts in July
The S&P Global Composite PMI for the Euro Area fell to 49.4 in July of 2022 from 52 in June and well below market forecasts of 51, preliminary estimates showed. The reading pointed to the first contraction in private sector activity since February of 2021, pushed down by a fall in factory activity (49.6 vs 52.1, the lowest in 25 months) and a slowdown in services (50.6 vs 53, the lowest in 5 months). Both output and new orders fell for the first times since the COVID-19 lockdowns of early 2021 while a rise in cost of living continued to erode the tailwind of pent-up demand from the pandemic. At the same time, jobs growth moderated for a second month running to a 15-month low as firms took more cautious approaches to hiring amid the deteriorating demand environment. Also, inflation remained elevated though it slowed. Meanwhile, business expectations for the year ahead fell to the lowest since May 2020, amid concerns over the weakening of demand, energy, supply and inflation.
2022-07-22
Euro Area Composite PMI Revised Slightly Higher
The S&P Global Eurozone Composite PMI was revised higher to 52 in May of 2022 from a preliminary estimate of 51.9. Still, It was the lowest reading since a contraction in February 2021, as manufacturing production fell for the first time in two years and services activity slowed. Inflows of new work stalled, ending a 15-month sequence of growth. Factory order book volumes declined at the steepest rate since May 2020 and international demand conditions continued to weaken, with the latest fall in exports the quickest in two years. Nonetheless, firms continued to struggle with capacity pressures, as backlogs of work rose again, and subsequently took on additional staff at a sharp pace. On the price front, cost burdens surged further, albeit with the rate of inflation retreating further from March’s peak; and charges levied rose at a slightly reduced pace, but one that was nonetheless marked. Looking ahead, the level of sentiment was the weakest since October 2020.
2022-07-05