Euro Area Manufacturing PMI

Last Release

Jul 31, 2024

Actual

45.8

Units In

Points

45.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
63.4 Jun 2021	33.4 Apr 2020	50.87 Points	2007-2024	Markit Economics

In the Euro Area, the Markit Manufacturing Purchasing Managers' Index measures the performance of the manufacturing sector and is derived from a survey of 3,000 manufacturing firms. National data are included for Germany, France, Italy, Spain, the Netherlands, Austria, the Republic of Ireland and Greece. These countries together account for an estimated 90% of Eurozone manufacturing activity. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The HCOB Flash Eurozone Manufacturing PMI fell to 45.2 in November 2024 from 46 in October and well below forecasts of 46. The reading pointed to another deep contraction in the manufacturing sector. Output declined, sharper reductions were recorded for new orders and workforce numbers decreased markedly, and to the largest degree since August 2020. Also, firms scaled back their purchasing activity, stocks of both purchases and finished goods were also lowered. On the price front, both input and output costs declined. However, "manufacturing purchase prices didn't drop as much as the previous month. If the euro keeps weakening, purchase prices might even rise in the coming months, especially if the EU Commission imposes counter-tariffs in response to potential US tariff hikes”, Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said.