Euro Area Composite PMI

Last Release

Jul 31, 2024

Actual

50.1

Units In

Points

50.9

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	51.63 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 Flash Eurozone Composite PMI declined to 50.1 in July 2024, the lowest in five months, from 50.9 in June and well below forecasts of 51.1. The reading signaled a near-stagnation of the Eurozone private sector as the bloc’s economic recovery continued to wane, with manufacturing weakness worsening (45.6 vs 45.8) and the services sector slowing (51.9 vs 52.8). New orders fell for the second month running and business confidence dropped to a six-month low, leading firms to halt a spell of hiring which began at the start of 2024. Meanwhile, the rate of input cost inflation quickened, but demand weakness meant that companies raised their selling prices at a softer pace. The two largest euro area economies continued to underperform the wider region. Output in Germany decreased for the first time in four months, while France posted a third consecutive monthly reduction in business activity.