🧠 Calquify Intelligence
Data from official sources
All data sourced from Eurostat, IMF, ECB, and national statistical offices. Figures represent latest available estimates as of January 2026. Subject to revision.
Source: Eurostat + IMF 2026
European economic context 2026
European economies in 2026 are navigating post-pandemic normalisation, ECB easing cycle, energy price normalisation after the 2022 crisis, and structural challenges including demographic ageing and green transition.
Source: ECB + IMF Economic Outlook 2026
Data revisions and preliminary estimates
Economic data is subject to revision. Preliminary estimates are revised quarterly. 2025 annual figures are estimates — final confirmed data typically published 12-18 months after year-end.
Source: Eurostat revision policy
Composite PMI — Europe December 2025 (50 = neutral)
Eurostat + IMF
📋 Reference Data
PMI Index Europe 2026 — Country Data 2026
Eurostat + national offices
| Country | Manufacturing PMI | Services PMI | Composite PMI | Signal |
|---|---|---|---|---|
| Germany | 43.8 | 51.2 | 47.5 | Contraction — auto restructuring |
| France | 45.0 | 48.5 | 47.1 | Contraction — political uncertainty |
| Italy | 46.5 | 50.5 | 48.9 | Near neutral |
| Eurozone | 45.1 | 51.6 | 49.7 | Near neutral — services vs mfg split |
| Spain | 53.5 | 56.8 | 55.1 | Strong expansion |
| UK | 47.0 | 53.5 | 50.8 | Mild expansion — services dominant |
| Poland | 50.5 | 54.0 | 52.5 | Expansion |
| Czech Republic | 48.0 | 51.0 | 49.5 | Near neutral |
| Sweden | 49.5 | 51.8 | 50.8 | Mild expansion |
ⓘ PMI (Purchasing Managers Index) by S&P Global/HCOB: monthly survey of purchasing managers. Above 50 = expansion; below 50 = contraction. 2+ years of eurozone manufacturing contraction is the longest since the 2011-2013 sovereign debt crisis.
PMI Index Europe 2026 — Context
Eurostat + IMF
| PMI Level | Signal | Policy Implication | Market Reaction |
|---|---|---|---|
| 55+ | Strong expansion | CB may tighten or pause cuts | Positive equities; hawkish rates |
| 51-54.9 | Moderate expansion | Neutral — watch inflation | Broadly positive |
| 50 | Neutral boundary | Key threshold — monitored closely | Event risk on cross |
| 47-49.9 | Mild contraction | Dovish CB bias — cuts likely | Mixed — growth concern |
| 43-46.9 | Contraction | Clear easing signal | Negative equities; bond rally |
| Below 43 | Severe contraction | Emergency action possible | Risk-off |
ⓘ The manufacturing/services PMI split (mfg 45.1 vs services 51.6) is the defining feature of European economic conditions in 2026. Services are carrying the eurozone while manufacturing remains in prolonged contraction — driven by weak German industrial orders, sluggish Chinese demand for European capital goods, and high energy costs versus US competitors.
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🔬 Methodology & Sources
Data Methodology
Data from Eurostat, IMF, ECB SDW, and national offices.
Formula
Official statistical databases; EU aggregates GDP-weighted.
CitationEurostat Statistics Explained; IMF WEO October 2025.
❓ Frequently Asked Questions
Sourced from Eurostat, national statistical institutes, ECB Statistical Data Warehouse, IMF WEO, and OECD. These are the primary official sources for European economic statistics.
Inflation: monthly. GDP: quarterly. Unemployment: monthly. Interest rates: per central bank meeting. Annual structural data: yearly.
EU27 = all 27 EU member states. Eurozone = 20 EU members using the euro. Switzerland, Norway, Iceland are European but not EU members. ECB data covers eurozone; Eurostat covers EU27.
Eurostat enforces harmonised methodology across all EU member states — HICP for inflation, ESA 2010 for national accounts, ILO definition for unemployment — allowing direct cross-country comparison.
The IMF WEO is published twice yearly (April and October) with updates in January and July. It provides GDP, inflation, and fiscal forecasts for all 190 IMF member countries. The October 2025 edition provides baseline forecasts used in this data section.
Data sourced from official institutional publications. Results are for informational purposes only. Last reviewed Jan 2026.
Data Disclaimer
Data from Eurostat, IMF, ECB, and national statistical offices. Latest available January 2026.
Data from Eurostat, IMF, ECB, and national statistical offices. Latest available January 2026.