The IHS Markit Eurozone Composite PMI slipped to 49.4 in October of 2020 from 50.4 in September and compared to market forecasts of 49.3, a flash estimate showed. The latest reading pointed to a renewed contraction in business activity across the eurozone after three months of expansion, as accelerating growth of manufacturing output (PMI at 54.4 vs 53.7 in September) was overwhelmed by a steepening deterioration in the service sector (PMI at 49.4 vs 50.4 in September) amid rising COVID-19 worries. The rate of job losses eased, but forward -looking indicators deteriorated: inflows of new business showed a renewed decline and business optimism for the year ahead slipped to the lowest since May. Deflationary pressures meanwhile eased as business costs rose at a faster rate. source: Markit Economics
Composite Pmi in the Euro Area averaged 51.67 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 October of 2020.
Composite Pmi in Euro Area is expected to be 48.00 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 52.90 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.