The IHS Markit Manufacturing PMI for the Euro Area rose to 47.8 in January of 2020 from 46.3 in December, above forecasts of 46.8. The reading pointed to the 12th straight month of contraction in factory activity, although the slowest in nine months, flash figures showed. New orders nearly stabilised, with the rate of decline in new work easing to the softest since November 2018. Also, firms continued to cut jobs and input prices fell for the eighth month. Finally, business sentiment improved for the fifth month amid signs that the worst of the recent downturn has passed.

Manufacturing PMI in the Euro Area averaged 50.88 points from 2007 until 2020, reaching an all time high of 60.60 points in December of 2017 and a record low of 33.50 points in February of 2009. This page provides the latest reported value for - Euro Area Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics

Manufacturing PMI in Euro Area is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Euro Area to stand at 53.10 in 12 months time. In the long-term, the Euro Area Manufacturing PMI is projected to trend around 53.40 points in 2020, according to our econometric models.

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Euro Area Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
47.80 46.30 60.60 33.50 2007 - 2020 points Monthly

News Stream
Euro Area Manufacturing PMI Revised Up
The IHS Markit Eurozone Manufacturing PMI was revised higher to 46.3 in December 2019 from a preliminary of 45.9 and 46.9 in November, final estimates showed. The reading pointed to the eleventh straight month of contraction in factory activity and at a rate that matched September’s 81- month record. New orders declined further and job shedding was the sharpest recorded by the survey since the start of 2013. Also, backlogs of work declined for a sixteenth successive month. On the price front, input prices declined for the seventh consecutive month but at the weakest pace since September; and output prices dropped again in December, as they have done in each month since July. Finally, confidence about the future strengthened to a six-month high at the end of 2019.

Eurozone Manufacturing Contraction Deepens
The IHS Markit Eurozone Manufacturing PMI dropped to 45.9 in December 2019 from 46.9 in the previous month, well below market expectations of 47.3, a preliminary estimate showed. Output contracted by the most since October 2012 and employment fell at the fastest pace for more than seven years. Also, new orders declined for a fifteenth successive month and the rate of backlog depletion quickened. On the price front, input prices continued to fall sharply while output charges dropped modestly.

Euro Area Manufacturing PMI Revised Up
The IHS Markit Eurozone Manufacturing PMI was revised higher to 46.9 in November of 2019 from a preliminary of 46.6 and 45.9 in October. The reading pointed to the 10th straight month of contraction in factory activity, but at the slowest rate in three months. Output, new orders, export orders and employment continued to shrink. Also, input prices fell sharply, mainly due to lower cost of metals and plastics and output charges were also cut at the sharpest pace since April of 2016. On the other hand, business confidence was the highest in five months as all nations covered by the survey indicated some optimism that output would be higher than present levels in 12 months’ time, albeit to varying degrees. Of the eight countries covered by the survey, manufacturing grew only in Greece and France. Germany remained at the bottom of the table followed by Austria and Spain while Italy registered its lowest PMI print in eight months.

Eurozone Factory Activity Beats Forecasts
The IHS Markit Eurozone Manufacturing PMI rose to 46.6 in November 2019 from 45.9 in the previous month and above market expectations of 46.4, a preliminary estimate showed. The latest reading pointed to the tenth consecutive contraction in factory activity, as output shrank albeit at a slower pace for the second straight month still remaining one of the steepest since early-2013. New orders dropped at the softer pace for five months, though the rate of decline remained sharp, mainly due to a fall in exports. The job creation rate fell for the seventh consecutive month, representing the worst period for manufacturing jobs since 2013. On the price front, input and output costs went down further and at the steepest rate since April 2016. Lastly, sentiment improved reaching a five-month high.

Euro Area Manufacturing PMI
In the Euro Area, the Markit Manufacturing Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of 3,000 manufacturing firms. National data are included for Germany, France, Italy, Spain, the Netherlands, Austria, the Republic of Ireland and Greece. These countries together account for an estimated 90% of Eurozone manufacturing activity. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.