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.

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Euro Area Composite PMI



Related Last Previous Unit Reference
Manufacturing PMI 47.10 46.40 points Nov 2022
Services PMI 48.60 48.60 points Nov 2022
Composite PMI 47.80 47.30 points Nov 2022

Euro Area Composite PMI
In the Euro Area, the Markit Eurozone PMI Composite Output Index tracks business trends across both the manufacturing and service sectors, based on data collected from a representative panel of over 5,000 companies (60 percent from the manufacturing sector and 40 percent from the services sector). The index tracks variables such as sales, new orders, employment, inventories and prices. National data are included for Germany, France, Italy, Spain, Austria, the Netherlands, Greece and the Republic of Ireland. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.
Actual Previous Highest Lowest Dates Unit Frequency
47.80 47.30 60.20 13.60 2012 - 2022 points Monthly

News Stream
Eurozone Economic Contraction Eases in November
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.
2022-11-23
Euro Area Composite PMI Points to Biggest Contraction in 2 Years
The S&P Global Eurozone Composite PMI was revised slightly higher to 47.3 in October of 2022 from a preliminary of 47.1, but still pointed to the fourth straight month of falling private sector activity and sharpest decline since November of 2020. A steeper reduction in manufacturing (46.4 vs 48.4) was accompanied by an accelerated decline in service sector activity (48.6 vs 48.8). New orders declined further amid uncertainty, high prices and generally weak underlying demand conditions. Also, backlogs of work continued to fall, exclusively driven by manufacturers. At the same time, employment was relatively solid overall while input cost and output price inflation rates eased. Finally, business confidence was little changed from September, which was the lowest since the initial COVID-19 shock in the first half of 2020.
2022-11-04
Eurozone Economic Contraction Deepens
The S&P Global Composite PMI dropped further to 47.1 in October 2022, the lowest since November 2020 from 48.1 in the previous month and below the consensus of 47.5, a preliminary estimate showed. The latest reading indicated falling business activity levels for four consecutive months, and at the fastest rate since April 2013 barring pandemic lockdowns. Manufacturing and energy-intensive sectors declined for the 5th month and at a rate not seen prior to the pandemic since July 2012 due to a surge in energy prices. Meanwhile, services activity contracted to a degree not witnessed outside of pandemic since May 2013, amid the ongoing cost of living crisis and economic uncertainty. New orders placed for goods and services fell for a 4th straight month, while employment growth ticked up slightly. Business expectations for the year ahead remained subdued, at the second-lowest since the early pandemic lockdowns. Germany reported the steepest contraction while growth in France stalled.
2022-10-24