Eurozone HCOB Composite PMI
Published:
Seasonally adjusted Eurozone composite survey index; 50 = no change.
Full explanation
The Eurozone HCOB Composite PMI is a monthly survey compiled by S&P Global for HCOB. It combines the euro area's manufacturing output index and services business activity index, weighted by sector size, into one measure of private-sector output across the euro area. The headline is seasonally adjusted. 50 means no change on the previous month: above 50 indicates activity is expanding, below 50 that it is contracting. S&P Global publishes a flash estimate around the 23rd of the reference month and a final figure a few working days into the next month; the calendar may show either under this name, and the final can revise the flash.
Why traders watch it
It is the earliest broad monthly read on business activity and is closely watched for growth and central-bank expectations.
Stronger vs weaker outcomes
Above 50 signals expanding activity, below 50 contraction; distance from 50 shows the pace. Stronger-than-expected readings tend to support the currency and bond yields.
A higher reading means activity grew faster.
A lower reading means activity grew more slowly or shrank.
Above 50 = expansion; below 50 = contraction.
Release details
- Release frequency
- Monthly (flash around the 23rd, final a few working days into the next month)
Typical volatility
High. Flash and final releases can share this name. This is the composite PMI and must not be confused with the manufacturing, services or national PMIs.
Trading considerations
- Focus on the flash release.
- Compare with 50 and with consensus.
- Check new business and prices sub-indices.
Educational guidance only — never a trading signal or recommendation.
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