The IHS Markit Euro Area Manufacturing PMI went up to 58.6 in November of 2021 from 58.3 in October and above market forecasts of 57.3, flash estimates showed. Still, the latest reading remained the second-weakest seen over the past 17 months. New business rose but growth was held back in particular by a third successive monthly drop in production in the autos sector. More positively, especially robust expansions were seen for tech equipment, food & drink and household goods. Fears over supply issues contributed to further inventory building by manufacturers, with November seeing a record build-up of warehouse stocks for the second month running as firms increased their purchases of available inputs. On the price front, firms’ input costs rose at an unprecedented pace and selling price inflation also accelerated. Finally, optimism in manufacturing improved from October’s one-year low, though remained subdued by supply and price worries. source: Markit Economics
Manufacturing PMI in the Euro Area averaged 51.34 points from 2007 until 2021, reaching an all time high of 63.40 points in June of 2021 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 November of 2021.
Manufacturing PMI in Euro Area is expected to be 55.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Manufacturing PMI is projected to trend around 54.00 points in 2022 and 53.40 points in 2023, according to our econometric models.