The HCOB Eurozone Composite PMI fell to 47.0 in August 2023 from 48.6 in the previous month, well below market expectations of 48.5, a preliminary estimate showed. The latest reading pointed to the steepest pace of contraction in the region's private sector activity since November 2020. Manufacturing output contracted at the second-strongest pace over the past 11 years, second only to the initial COVID-19 lockdowns, and services output dropped for the first time since last December. Total new business inflows fell for a third straight month, with the rate of decline accelerating to the fastest since November 2020, and the pace of job creation weakened to the lowest since February 2021. Inflationary pressures, meanwhile, increased in August, both in terms of average selling prices and input costs. Lastly, companies’ expectations of output levels in the coming year fell for a sixth consecutive month, reaching the lowest point since last December. source: Markit Economics

Composite PMI in Euro Area averaged 51.83 points from 2012 until 2023, 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 August of 2023.

Composite PMI in Euro Area is expected to be 47.50 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 52.20 points in 2024 and 51.90 points in 2025, according to our econometric models.

Ok
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

Euro Area Composite PMI



Related Last Previous Unit Reference
Services PMI 48.30 50.90 points Aug 2023
Manufacturing PMI 43.70 42.70 points Aug 2023
Composite PMI 47.00 48.60 points Aug 2023

Euro Area Composite PMI
The HCOB Eurozone Composite Output Index, which is a weighted average of the Manufacturing Output Index and the Services Business Activity Index, is compiled by S&P Global from responses to questionnaires sent to survey panels of manufacturers in Germany, France, Italy, Spain, the Netherlands, Austria, Ireland and Greece, and of service providers in Germany, France, Italy, Spain and Ireland, totaling around 5,000 private sector companies. The index tracks variables such as sales, new orders, employment, inventories and prices; and varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
47.00 48.60 60.20 13.60 2012 - 2023 points Monthly

News Stream
Eurozone Output Shrinks the Most in Nearly 3 Years
The HCOB Eurozone Composite PMI fell to 47.0 in August 2023 from 48.6 in the previous month, well below market expectations of 48.5, a preliminary estimate showed. The latest reading pointed to the steepest pace of contraction in the region's private sector activity since November 2020. Manufacturing output contracted at the second-strongest pace over the past 11 years, second only to the initial COVID-19 lockdowns, and services output dropped for the first time since last December. Total new business inflows fell for a third straight month, with the rate of decline accelerating to the fastest since November 2020, and the pace of job creation weakened to the lowest since February 2021. Inflationary pressures, meanwhile, increased in August, both in terms of average selling prices and input costs. Lastly, companies’ expectations of output levels in the coming year fell for a sixth consecutive month, reaching the lowest point since last December.
2023-08-23
Euro Area Private Sector Shrinks Slightly More than Anticipated
The HCOB Eurozone Composite PMI was revised lower to 48.6 in July of 2023 from a preliminary of 48.9, and compared to 49.9 in June, pointing to the biggest contraction in private sector activity since November. Once again, manufacturing represented a considerable drag on the eurozone’s economic performance (42.7 vs 43.4), with production volumes declining at a rapid and accelerated rate. Weakness among goods producers was accompanied by a further slowdown in the services sector (50.9 vs 52). Overall, total new work fell the most since October last year. Also, contraction in order books continued to free up capacity, leading backlogs of work to decline once again. Meanwhile, employment growth slowed to the weakest in almost two-and-a-half years, and confined to the services sector. Price pressures cooled, with input cost inflation hitting a 32-month low and output charges rising the least since February 2021. Finally, business confidence was the lowest so far this year.
2023-08-03
Eurozone Private Sector Contracts Most in 8 Months
The HCOB Eurozone Composite PMI fell to 48.9 in July 2023, down from 49.9 in the previous month and well below market expectations of 49.7, a preliminary estimate showed. The latest reading indicated the steepest pace of contraction in business output since last November, as new business inflows fell the most in eight months and backlogs of work dropped at the steepest rate since February 2013, if the initial COVID-19 lockdown months are excluded. Additionally, employment growth slowed to the softest since February 2021. Price pressures also moderated further, with average selling prices rising at the slowest rate in almost two-and-a-half years. Finally, business confidence deteriorated to the lowest level since last November.
2023-07-24