The HCOB Eurozone Manufacturing PMI fell to a three-month low of 45.7 in March 2024 from 46.5 in February, and well below market forecasts of 47, preliminary estimates showed. The reading pointed to another worsening of manufacturing conditions, with job losses falling at the joint-largest pace since August 2020 while the rate of output and new orders decline softened a bit. Also, input buying dropped more and inventories of inputs fell the most since December. Meanwhile, supplier delivery times at goods producers also continued to improve after the initial Red Sea related delays seen at the start of the year, facilitating a further fall in manufacturing input prices. Among the largest economies, manufacturing conditions worsened for both Germany and France. source: S&P Global

Manufacturing PMI In the Euro Area decreased to 45.70 points in March from 46.50 points in February of 2024. Manufacturing PMI in Euro Area averaged 50.96 points from 2007 until 2024, 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 March of 2024.

Manufacturing PMI In the Euro Area decreased to 45.70 points in March from 46.50 points in February of 2024. Manufacturing PMI in Euro Area is expected to be 45.70 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 53.00 points in 2025 and 52.00 points in 2026, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies 2.70 -10.90 percent Dec 2023
Business Confidence -0.30 -0.41 points Mar 2024
Capacity Utilization 79.20 79.60 percent Mar 2024
Car Registrations 778668.23 771857.27 Units Feb 2024
Changes in Inventories 36.23 7.28 EUR Billion Dec 2023
HCOB Composite PMI Flash 49.90 49.20 points Mar 2024
Industrial Production YoY -6.70 0.20 percent Jan 2024
Industrial Production MoM -3.20 1.60 percent Jan 2024
Industrial Sentiment -8.80 -9.40 points Mar 2024
HCOB Manufacturing PMI Flash 45.70 46.50 points Mar 2024
Manufacturing Production -7.70 0.30 percent Jan 2024
Mining Production -9.80 -9.70 percent Jan 2024
HCOB Services PMI Flash 51.10 50.20 points Mar 2024
Services Sentiment 6.30 6.00 points Mar 2024
ZEW Economic Sentiment Index 33.50 25.00 points Mar 2024

Euro Area Manufacturing PMI
The HCOB Eurozone Manufacturing PMI is compiled by S&P Global from responses to monthly questionnaires sent to survey panels of manufacturers in Germany, France, Italy, Spain, the Netherlands, Austria, Ireland and Greece, totaling around 3,000 private sector companies. The headline figure is the Purchasing Managers’ Index (PMI), which is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
45.70 46.50 63.40 33.40 2007 - 2024 points Monthly
SA

News Stream
Euro Area Manufacturing PMI at 3-Month Low
The HCOB Eurozone Manufacturing PMI fell to a three-month low of 45.7 in March 2024 from 46.5 in February, and well below market forecasts of 47, preliminary estimates showed. The reading pointed to another worsening of manufacturing conditions, with job losses falling at the joint-largest pace since August 2020 while the rate of output and new orders decline softened a bit. Also, input buying dropped more and inventories of inputs fell the most since December. Meanwhile, supplier delivery times at goods producers also continued to improve after the initial Red Sea related delays seen at the start of the year, facilitating a further fall in manufacturing input prices. Among the largest economies, manufacturing conditions worsened for both Germany and France.
2024-03-21
Eurozone Manufacturing Contraction Softer Than Initially Thought
The HCOB Eurozone Manufacturing PMI was revised higher to 46.5 in February 2024, up from a preliminary estimate of 46.1 and compared with January's 10-month high of 46.6. The latest reading signaled the second-slowest deterioration in manufacturing sector conditions since March 2023, with Germany driving the overall deterioration and contracting the most in four months. On the other hand, softer contractions were seen in the Netherlands, Italy, and France, while Spain returned to growth and Greece and Ireland recorded their best expansions for 24 and 20 months, respectively. The overall pace of output contraction was the joint-weakest in ten months, with inflows of new orders declining the least since March 2023. Meanwhile, employment fell for a ninth consecutive month, and supplier delivery times shortened. On the price front, both input costs and output charges continued to drop. Finally, business confidence was little-changed from January's nine-month high.
2024-03-01
Euro Area Manufacturing PMI Unexpectedly Falls
The HCOB Eurozone Manufacturing PMI decreased to 46.1 in February 2024 from 46.6 in January and missing market expectations of 47, preliminary estimates showed. Manufacturing output declined for the eleventh consecutive month, with new orders and export orders seeing significant drops as well. Job losses in manufacturing accelerated, along with a continued reduction in input buying and inventories. However, the decrease in input buying did ease pressure on supply chains. Supplier delivery times improved in February after disruptions in January. Input prices decreased at the slowest rate in 11 months, while prices charged continued to fall, maintaining a trend seen over the past ten months. Despite a slight dip in sentiment, manufacturing remains far above the low point seen last October.
2024-02-22