HCOB Eurozone Manufacturing PMI in Eurozone

S&P Global · Monthly (flash + final) · Importance

52.7 (Aug-26) ABS · index · Monthly · CSV

Period	index
Aug 2026	52.7
Jul 2026	51.9
Jun 2026	51.4
May 2026	51.6

Period	index
Aug 2026	0.8

Period	index
Aug 2026	2.0
Jul 2026	2.1
Jun 2026	1.9
May 2026	2.2
Apr 2026	3.2
Mar 2026	3.0
Feb 2026	3.2

About this indicator

Source

S&P Global Market Intelligence / HCOB

Frequency

Monthly (flash + final)

Release

Flash around the 23rd of the same month (10:00 CET); final on the first working day of the following month (10:00 CET).

What it is

The Eurozone Manufacturing PMI is a diffusion index based on a survey of purchasing managers in industry. Above 50 signals expansion and below 50 contraction. It is compiled by S&P Global and sponsored by Hamburg Commercial Bank (HCOB), with a flash and a final reading each month.

How it's calculated

A weighted composite of five sub-indices: New Orders (30%), Output (25%), Employment (20%), Suppliers' Delivery Times (15%) and Stocks of Purchases (10%). It aggregates the national PMIs by economic weight and is published seasonally adjusted.

Market implications

It is one of the earliest signals of the eurozone industrial cycle and moves the euro and ECB rate expectations, with the flash carrying more weight than the final.

Limitations

A qualitative survey that captures the direction of change, not its magnitude. The flash reading is revised in the final.