The IHS Markit Eurozone Composite PMI was at 50.9 in January 2020, unchanged from the previous month and missing market expectations of 51.2, a preliminary estimate showed. The index remained amongst the lowest levels in the past six-and-a-half years, as services activity grew at a slower pace (PMI at 52.2 vs 52.8 in December) while manufacturing output continued to contract (PMI at 47.8 vs 46.3 in December). The rate of expansion in output and new orders remained muted while the rate of job creation picked up from that seen at December. Rises in operating capacity enabled companies to deplete backlogs of work. On the price front, input cost inflation accelerated to an eight-month high, still remaining relatively muted and output prices rose. Finally, sentiment increased to a 16-month high, boosted by a fifth successive improvement in confidence among manufacturers amid signs that the worst of the recent downturn has passed.
Composite Pmi in the Euro Area averaged 52.59 points from 2012 until 2019, reaching an all time high of 58.80 points in January of 2018 and a record low of 45.70 points in October of 2012. 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. source: Markit Economics
Composite Pmi in Euro Area is expected to be 50.90 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 53.20 in 12 months time. In the long-term, the Euro Area Composite PMI is projected to trend around 53.70 points in 2020, according to our econometric models.