Manufacturing PMI – Europe | March 2026
- Eurozone: 51.6 (forecast: 51.4; previous: 51.4)
- Germany: 52.2 (forecast: 51.7; previous: 51.7)
- Italy: 51.3 (forecast: 50.9; previous: 50.6)
- France: 50.0 (forecast: 50.2; previous: 50.2)
- Switzerland: 53.3 (forecast: 47.0; previous: 47.4)
- Spain: 48.7 (forecast: 50.4; previous: 50.0)
- Sweden: 56.3 (previous: 56.1)
- Poland: 48.7 (forecast: 47.2; previous: 47.1)
March PMI data for European manufacturing delivered broadly positive surprises, although the overall picture remains mixed. The eurozone as a whole recorded a reading of 51.6, above both expectations and the previous month, signaling continued expansion in the manufacturing sector. The standout surprise was Switzerland, with a reading of 53.3 versus expectations of just 47.0—one of the largest positive deviations from consensus on record. Germany is reinforcing its role as the engine of European industry, posting 52.2 and clearly beating forecasts, suggesting the region’s largest economy is emerging from a prolonged period of weakness.
On the downside, Spain disappointed by falling below the 50 threshold (48.7 vs. 50.4 expected), indicating a contraction in manufacturing activity after a month of growth. Poland saw a modest improvement to 48.7, outperforming expectations (47.2), but remains in contraction territory—marking yet another month below the 50 level. Overall, the data carries a moderately positive tone for the euro, although the clear divergence between core economies and the periphery may complicate a unified assessment of the eurozone’s condition by the ECB.
Source: xStation
AU200.cash: mixed signals from the Australian economy ⚔️
Morning wrap (01.04.2026)
Daily Summary: Markets Explode 🚀 Investors Price in the End of the War 🤝
BREAKING: Markets surge following the Iranian president's statement about a possible end to the conflict 🚨
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
