Euro Area Composite PMI

Last Release

Mar 31, 2024

Actual

50.3

Units In

Points

49.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
60.2 Jul 2021	13.6 Apr 2020	51.64 Points	2012-2024	Markit Economics

In the Euro Area, the Markit Eurozone PMI Composite Output Index tracks business trends across both the manufacturing and service sectors, based on data collected from a representative panel of over 5,000 companies (60 percent from the manufacturing sector and 40 percent from the services sector). The index tracks variables such as sales, new orders, employment, inventories and prices. National data are included for Germany, France, Italy, Spain, Austria, the Netherlands, Greece and the Republic of Ireland. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Latest Updates

The HCOB Eurozone Composite PMI was revised upward to 50.3 in March, marking the highest level in ten months, up from the initial estimate of 49.9 and a significant improvement from February's 49.2. This indicates a return to growth for the eurozone's private sector for the first time since May last year. Although the overall increase in business activity was modest, with manufacturing output still in decline at 46.1 (slightly down from 46.5 in February), the services sector showed improvement at 51.5 in March compared to 50.2 previously. This growth was supported by stable demand and efforts to clear work backlogs. Additionally, there was a third consecutive month of net job growth in the eurozone, as businesses expressed rising confidence in the economic outlook. Expectations for future business activity reached a high not seen since February 2022, signaling a positive outlook for the months ahead.