The IHS Markit Eurozone Manufacturing PMI was revised higher to 51.8 in July 2020, up from a preliminary estimate of 51.1 and compared to June's final reading of 47.4. That latest PMI pointed to the first month of expansion in the bloc's manufacturing sector since February 2019 as output and demand continued to recover in line with the further easing of restrictions on activity related to the coronavirus pandemic. Both production and new orders returned to growth, with new export orders rising for the first time since September 2018. Meanwhile, backlogs of work declined dropped for a twenty-third successive month, while employment fell for a fifteenth successive month. On the price front, input costs were down for a fourteenth month in a row and output charges were cut again to boost sales. Finally, looking ahead to the coming 12 months, business confidence continued to recover in July.
Manufacturing PMI in the Euro Area averaged 50.63 points from 2007 until 2020, 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 August of 2020. source: Markit Economics
Manufacturing PMI in Euro Area is expected to be 52.00 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 54.00 in 12 months time. In the long-term, the Euro Area Manufacturing PMI is projected to trend around 52.00 points in 2021 and 53.40 points in 2022, according to our econometric models.