The S&P Global Eurozone Composite PMI declined to 50.5 in March 2026, down from 51.9 in February and below market expectations of 51.0, according to preliminary data. This signals only marginal growth in the bloc’s private sector, the weakest in ten months, as service sector activity nearly stalled. New orders contracted for the first time in eight months, and employment continued to fall amid rising uncertainty tied to the Middle East conflict. On the price front, input cost inflation surged to its fastest pace since February 2023, while output prices rose at the sharpest rate since February 2024. Supply chains also faced severe disruptions, with suppliers’ delivery times lengthening the most in over three-and-a-half years. Finally, business confidence plummeted to its lowest in nearly a year, marking the steepest drop since Russia’s invasion of Ukraine in 2022. source: S&P Global

Composite PMI In the Euro Area decreased to 50.50 points in March from 51.90 points in February of 2026. Composite PMI in Euro Area averaged 51.52 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 50.50 points in March from 51.90 points in February of 2026. Composite PMI in Euro Area is expected to be 50.50 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
HCOB Manufacturing PMI 51.40 50.80 points Mar 2026
S&P Global Services PMI 50.10 51.90 points Mar 2026

Related Last Previous Unit Reference
Bankruptcies QoQ 3.40 4.30 percent Dec 2025
Business Confidence -0.36 -0.38 points Feb 2026
Capacity Utilization 77.60 78.00 percent Mar 2026
Car Registrations 764651.00 757035.00 Units Feb 2026
Changes in Inventories 27.81 36.61 EUR Billion Dec 2025
Industrial Production YoY -1.20 2.20 percent Jan 2026
Industrial Production MoM -1.50 -0.60 percent Jan 2026
Industrial Sentiment -7.10 -6.80 points Feb 2026
Manufacturing Production -2.20 2.60 percent Jan 2026
Mining Production 0.80 1.80 percent Jan 2026
Services Sentiment 5.00 6.80 points Feb 2026
ZEW Economic Sentiment Index -8.50 39.40 points Mar 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 Weakest in 10 Months
The S&P Global Eurozone Composite PMI declined to 50.5 in March 2026, down from 51.9 in February and below market expectations of 51.0, according to preliminary data. This signals only marginal growth in the bloc’s private sector, the weakest in ten months, as service sector activity nearly stalled. New orders contracted for the first time in eight months, and employment continued to fall amid rising uncertainty tied to the Middle East conflict. On the price front, input cost inflation surged to its fastest pace since February 2023, while output prices rose at the sharpest rate since February 2024. Supply chains also faced severe disruptions, with suppliers’ delivery times lengthening the most in over three-and-a-half years. Finally, business confidence plummeted to its lowest in nearly a year, marking the steepest drop since Russia’s invasion of Ukraine in 2022.
2026-03-24
Eurozone Business Activity Growth Accelerates in February
The HCOB Eurozone Composite PMI climbed to 51.9 in February 2026, up from 51.3 in January, marking the strongest expansion in private sector activity in three months. The reading signaled a firmer pace of growth across the euro area economy. Growth was driven by stronger manufacturing and services output, with Germany leading the upturn. Ireland and Italy also posted solid gains, while growth slowed in Spain and France stagnated. New orders increased at a faster pace overall, despite a continued decline in export business. Employment levels were broadly stable, showing little change from the previous month. On the price front, input cost inflation accelerated for the fourth consecutive month, reaching its highest level in nearly three years. Output price inflation eased slightly but remained elevated, marking the second-steepest increase in the past year. Meanwhile, business confidence improved, rising to its strongest level since May 2024.
2026-03-04
Eurozone Private Sector Growth Accelerates in February
The HCOB Eurozone Composite PMI rose to 51.9 in February 2026 from 51.3, beating expectations of 51.5, according to a preliminary estimate. The data signaled the strongest expansion in private sector activity since November, driven by the sharpest rise in manufacturing output since August 2025 and faster growth in services. Meanwhile, new orders increased only marginally, as foreign demand continued to decline. Employment slipped slightly for a second straight month, and backlogs of work extended their downturn. On the pricing front, input cost inflation accelerated to its joint-fastest pace in 34 months, while output price growth eased modestly. Business confidence edged lower but remained the second-highest level in 21 months.
2026-02-20