The Eurozone’s Manufacturing PMI rose to 52.2 in April 2026 from 51.6 in March, beating market expectations of 50.8 and signaling the sharpest improvement in business conditions since May 2022. Output expanded at its fastest pace since August 2025, while new orders grew at the quickest rate in four years, supported by the first increase in export demand since February 2022.
Part of this upturn, however, reflected stockpiling by customers concerned about potential price increases and supply disruptions linked to the Middle East conflict. Although employment in the manufacturing sector continued to decline, purchasing activity rose at its strongest rate since May 2022. At the same time, inflationary pressures intensified, and business confidence slipped to a 17‑month low, underscoring a more cautious outlook.
