Markit Composite PMI is a monthly composite report on services and manufacturing in the eurozone, released by Markit Economics. The index is based on survey data collected from representatives of over 5,000 private sector manufacturing and service companies in the eurozone. The representatives evaluate business conditions in the region based on the number of new orders, the price on their products, etc.
The survey results are weighted based on the company's size and its contribution to the overall performance in this sub-sector of economy. Thus, the opinion of large companies has the greatest impact on the final result.
Readings above 50 can affect euro quotes positively.
The chart of the entire available history of the "Markit European Union Composite Purchasing Managers Index (PMI)" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.