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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone Markit Composite PMI fell to 54.5 in March 2022
FMPMonthlyReleased March 2022
Eurozone Markit Composite PMI fell to 54.5 in March 2022, down 1 from February's 55.5 reading. The reading matched the 53.9 consensus. Markit Composite PMI has now declined for 3 consecutive months. Over the past 3 months, Markit Composite PMI averaged 53.86, vs 54.89 in the prior 3-month window. The reading is in the 53rd percentile of the trailing 24-month range.
Latest Release
54.5
Actual
53.9
Consensus
55.5
Previous
Median Absolute Error
±0.38
across last 12 releases
Last Call
Mar 2022
Predicted: 54.14
Actual: 54.5
Error: -0.36
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Markit Composite PMI (European Union) was reported at 54.50 in March 2022. This beat the market consensus of 53.90 by 0.60. The reading fell from the previous value of 55.50. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 55.27, up from the prior three at 52.67.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.38.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include ZEW Economic Sentiment Index (Jun 16) and Economic Sentiment (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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Markit Composite PMI - EU
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About Markit Composite PMI — European Union
DEFINITION
Markit Composite PMI is a widely recognized financial indicator that measures the overall economic health of a country or region. It combines data from the manufacturing and services sectors to provide a comprehensive view of business activity and growth. This indicator is closely monitored by investors, policymakers, and businesses as it can provide valuable insights into the current and future state of the economy. A reading above 50 indicates expansion, while a reading below 50 suggests contraction. Markit Composite PMI is a valuable tool for decision-making and risk management in the financial world.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2022): actual 54.5, consensus 53.9. Prior reading (Feb 2022): 55.5. Before that (Feb 2022): 55.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.