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.