Eurozone PMI October 2018


Eurozone: PMI falls to over two-year low in October

November 6, 2018

Leading data suggests that the Euro area’s economic momentum lost steam in October. The Eurozone Composite Purchasing Managers’ Index (PMI), produced by IHS Markit, fell from September’s 54.1 to 53.1—the worst result since September 2016. Despite the fall, the composite PMI lies well above the 50-threshold, signaling expanding business activity in the Eurozone.

Both the manufacturing and services sectors PMIs fell in October, leading to the decrease. New business growth lost steam amid slower orders from abroad, likely linked to global trade tensions. Business confidence also slipped in the month, while price pressures rose underpinned by higher global energy prices.

Regarding the two largest Eurozone economies, Germany’s composite PMI fell to a five-month low, while France’s rose in October. 

FocusEconomics Consensus Forecast panelists expect the Eurozone economy to expand 1.8% in 2019, which is unchanged from last month’s forecast. For 2020, panelists expect the economy to grow 1.6%.


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Eurozone PMI Chart

Euro PMI October 2018

Note: Markit Purchasing Managers’ Index (PMI) Composite Output. A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction
Source: IHS Markit

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