The IHS Markit Eurozone Composite PMI was revised higher to 48.5 in June 2020 from a preliminary estimate of 47.5 and compared to 31.9 in May. The reading pointed to the softer contraction in private sector activity in four months, as restrictions related to the coronavirus pandemic eased. Both manufacturing output (PMI at 47.4 vs 39.4 in May) and services activities (PMI at 48.3 vs 30.5 in May) shrank at the weakest pace in four months. The job shedding rate slowed further since April’s record and backlogs of work dropped for the sixteenth straight month but a slower rate. On the price front, operating expenses were little-changed as falling input prices for manufacturers were offset by higher employment expenses for service providers while output prices declined for the fourth consecutive month. Finally, sentiment returned to positive territory and hit a four-month high amid hopes that the easing of lockdown restrictions will pave the way for stronger demand and sales growth.
Composite Pmi in the Euro Area averaged 51.67 points from 2012 until 2020, reaching an all time high of 58.80 points in January of 2018 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 July of 2020. source: Markit Economics
Composite Pmi in Euro Area is expected to be 43.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Euro Area to stand at 53.70 in 12 months time. In the long-term, the Euro Area Composite PMI is projected to trend around 51.00 points in 2021 and 53.70 points in 2022, according to our econometric models.