The IHS Markit Eurozone Composite PMI rose to 55.8 in November 2021, from October's six-month low of 54.2 and well above market consensus of 53.2, a preliminary estimate showed. The latest reading indicated an improvement in the rate of growth, helped by a sharper increase in the service sector activity. Meanwhile, manufacturing growth remained the second-weakest seen over the past 17 months. Inflows of new business rose at a faster pace and the pace of job creation was the second-highest over the past 21 years, while backlogs of work increased at an elevated pace due to ongoing constraints. Suppliers’ delivery times continued to lengthen at record rate, amid ongoing supply shortages and transport problems. On the price front, firms’ costs and average selling prices charged for goods and services both rose at record rates. Finally, business expectations deteriorated to the lowest since January, amid concerns over supply chain issues and rising COVID-19 cases across the region. source: Markit Economics
Composite PMI in the Euro Area averaged 51.92 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 November of 2021.
Composite PMI in Euro Area is expected to be 53.40 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.