The IHS Markit Eurozone Manufacturing PMI was revised higher to a four-month high of 47.4 from a preliminary estimate of 46.9 and compared to May's final reading of 39.4. Still, the latest survey suggested the Eurozone manufacturing sector remained in contraction territory for the past 17 months. Output and new orders declined at a softer pace as more businesses restarted operations following weeks of closure due to the coronavirus pandemic. Backlogs of work outstanding fell for a twenty-second successive month and employment dropped for a fourteenth month in a row. Purchasing activity also remained depressed. On the price front, both input costs and output charges continued to decline. Finally, confidence about production in the year ahead returned to positive territory during June.
Manufacturing PMI in the Euro Area averaged 50.62 points from 2007 until 2020, reaching an all time high of 60.60 points in December of 2017 and a record low of 33.40 points in April of 2020. This page provides the latest reported value for - Euro Area Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Markit Economics
Manufacturing PMI in Euro Area is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Euro Area to stand at 54.00 in 12 months time. In the long-term, the Euro Area Manufacturing PMI is projected to trend around 52.00 points in 2021 and 53.40 points in 2022, according to our econometric models.