The IHS Markit Euro Area Manufacturing PMI jumped to 57.7 in February of 2021 from 54.8 in January, beating forecasts of 54.3, flash estimates showed. The reading pointed to the strongest growth in factory activity in 3 years as output rose at the second-fastest pace in three years, buoyed by surging inflows of news business. Especially strong manufacturing growth was again recorded in Germany, though France also saw production return to modest growth and the rest of the eurozone enjoyed the strongest factory production gains since last August. Also, employment rose for the first time since April of 2019 and there was increasingly widespread shortages of inputs. Also, surging demand and constrained supply contributed to a further marked rise in prices during the month. Business expectations also improved to the highest for nearly three years as companies looked ahead to vaccine roll-outs allowing an easing of restrictions. source: Markit Economics
Manufacturing PMI in the Euro Area averaged 50.79 points from 2007 until 2021, reaching an all time high of 60.60 points in December of 2017 and a record low of 33.40 points in April of 2020. 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. Euro Area Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Manufacturing PMI in Euro Area is expected to be 51.00 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 52.00 in 12 months time. In the long-term, the Euro Area Manufacturing PMI is projected to trend around 52.00 points in 2022 and 53.40 points in 2023, according to our econometric models.