The IHS Markit Eurozone Composite PMI went up to 30.5 in May 2020 from 13.6 in April and beating market consensus of 25, a preliminary estimate showed. The latest reading pointed to the third sharpest contraction in the private sector since series began, as the coronavirus pandemic continued to have a severe impact on the economy. Both manufacturing output and services activities shrank at a softer pace. The job shedding rate eased modestly compared to April’s record and backlogs of work dropped at the fastest pace on record. New orders fell to the third-greatest extent ever seen by the surveys. On the price front, input costs decreased markedly and average prices charged for goods and services declined for a third successive month as companies offered discounts to help stimulate sales. Looking by region, output fell less across France and Germany, as well as collectively across the rest of the region, from the unprecedented downturns seen in April. Lastly, sentiment remained weak.
Composite Pmi in the Euro Area averaged 51.69 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 May of 2020. source: Markit Economics
Composite Pmi in Euro Area is expected to be 41.00 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 50.60 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.