Macro Focus - Euro area PMIs. A very deep V in growth rates
Euro area PMIs. A very deep V in growth rates

  • Composite PMI bounce back to bounce back to 47.5
  • Manufacturing remains more subdued
  •  Services improve markedly as countries re-open

Euro area had not quite returned to the growth territory in June, but the survey results give optimism that damage will be contained within the first half of the year. Manufacturing fell less but is slower to recover, while the fall in services activity slowed more rapidly as restrictions were lifted. Employment in Euro area had held up fairly well due to support programs and that provides conditions for service economy to recover faster. Outlook for export-oriented manufacturing is less rosy.

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For more information please contact 

Vytenis Šimkus +370 687 17870

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