Eurozone Purchasing Managers Index: The Eurozone Manufacturing Purchasing Managers Index (PMI) assesses business conditions in the manufacturing sector. This index is an indicator that is followed closely because the manufacturing sector represents nearly a quarter of total Eurozone GDP. It is believed to be a good reflection of business conditions and the well-being of the economy. Values above 50 signal an expected increase of business activity and values below 50 indicate an expected deterioration.
Source: FX Words