The S&P Global Eurozone Composite PMI rose to 47.8 in November 2022 from October's 47.3 and above market expectations of 47, a preliminary estimate showed. Although the rate of output decline remained the second-strongest since 2013, excluding COVID-19 lockdown months, the intensity of the contraction eased amid a softening downturn in demand, fewer supply constraints and a pick-up in business confidence. By sector, manufacturing production dropped for a sixth successive month, although at a softer pace, while service sector output also fell, down for a fourth consecutive month. New orders fell for a fifth month running, at a pace that was the second-fastest seen in the past two years, while backlogs of work declined the most in two years and the pace of job creation was the weakest since March 2021. On the price front, input cost inflation cooled to the lowest since September 2021, while the selling price inflation eased to a three-month low. source: Markit Economics
Composite PMI in Euro Area averaged 51.90 points from 2012 until 2022, 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 December of 2022.
Composite PMI in Euro Area is expected to be 48.10 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 53.00 points in 2023 and 53.70 points in 2024, according to our econometric models.