Euro Area Factory Activity Surprises on the Upside

2026-03-24 09:20 By Luisa Carvalho 1 min. read

The S&P Global Eurozone Manufacturing PMI rose to 51.4 in March 2026 from 50.8 in February, better than forecasts of 49.4, flash estimates showed.

The data signaled an acceleration in manufacturing activity compared with February, marking the strongest growth in 45 months.

New orders continued to rise, and export orders showed signs of stabilization.

Meanwhile, the reduction in employment remained modest, but it was the most pronounced in three months.

Purchasing activity expanded for the first time in 44 months, ending a long sequence of decline.

However, manufacturers reported the most significant lengthening of suppliers’ delivery times in over three and a half years, reflecting supply chain disruptions caused by the Iran war.

As a result, stocks of inputs and finished goods continued to fall, and at a faster pace than in the previous month.

Inflationary pressures intensified markedly, with both input costs and prices charged accelerating.

Lastly, business confidence weakened.



News Stream
Euro Area Factory Activity Surprises on the Upside
The S&P Global Eurozone Manufacturing PMI rose to 51.4 in March 2026 from 50.8 in February, better than forecasts of 49.4, flash estimates showed. The data signaled an acceleration in manufacturing activity compared with February, marking the strongest growth in 45 months. New orders continued to rise, and export orders showed signs of stabilization. Meanwhile, the reduction in employment remained modest, but it was the most pronounced in three months. Purchasing activity expanded for the first time in 44 months, ending a long sequence of decline. However, manufacturers reported the most significant lengthening of suppliers’ delivery times in over three and a half years, reflecting supply chain disruptions caused by the Iran war. As a result, stocks of inputs and finished goods continued to fall, and at a faster pace than in the previous month. Inflationary pressures intensified markedly, with both input costs and prices charged accelerating. Lastly, business confidence weakened.
2026-03-24
Eurozone Manufacturing PMI Hits Highest Since Mid-2022
The HCOB Eurozone Manufacturing PMI was confirmed at 50.8 in February 2026, up from January’s 49.5, marking the strongest improvement in operating conditions for euro area factories since June 2022. Manufacturing output rose again, and new orders increased at the fastest pace since April 2022, while exports declined at the slowest rate in three months. Despite the gains, employment continued to fall, and backlog reductions moderated. Purchasing activity nearly stabilized, with the pace of decline slowing for a second consecutive month. On the price front, input cost inflation surged to a 38-month high, while output prices rose for a second consecutive month, the first back-to-back increase in nearly three years, with the latest rise the sharpest since March 2023. Business confidence climbed to a four-year high, signaling optimism for the months ahead.
2026-03-02
Euro Area Manufacturing PMI Tops Forecasts
The HCOB Flash Eurozone Manufacturing PMI increased to 50.8 in February 2026 from 49.5 in January, beating forecasts of 50. The reading pointed to the strongest improvement in manufacturing business conditions since June 2022, with the rise in production being the sharpest since August 2025 and new orders increasing for the first time in six months, and at the fastest pace in almost four years. On the other hand, manufacturing staffing levels continued to fall, input costs rose at the fastest pace since December 2022 and selling prices also accelerated. Finally, business sentiment reached a four-year high. "Overall, it seems that the manufacturing sector is on a more stable footing and could contribute to overall growth this year instead of being a drag for the economy", Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said
2026-02-20