The IHS Markit Eurozone Composite PMI declined to 47.5 in January 2021 from 49.1 in the previous month, and below market expectations of 47.6, a preliminary estimate showed. The latest reading pointed to a third successive monthly decline in business activity and the steepest deterioration since November, amid the ongoing pandemic and related restrictions. The rate of factory output growth weakened to the slowest since the recovery began and the service sector saw output falling at the second-fastest rate since May. January saw employment across the eurozone declining for an eleventh consecutive month but the overall rate of decline was the lowest recorded since the pandemic began. Business expectations about output in the coming 12 months pulled back from December’s recent peak, largely linked to worries about the persistence of the pandemic’s impact on demand, though remained the second-highest since May 2018. source: Markit Economics
Composite PMI in the Euro Area averaged 51.55 points from 2012 until 2021, 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 January of 2021.
Composite PMI in Euro Area is expected to be 50.60 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 51.00 in 12 months time. In the long-term, the Euro Area Composite PMI is projected to trend around 51.00 points in 2022 and 53.70 points in 2023, according to our econometric models.