The IHS Markit Eurozone Services PMI dropped to 51.2 in December 2018, slightly below a preliminary estimate of 51.4 and November's final 53.4. It was the lowest reading since November 2014 as new business growth and business confidence eased to four-year lows while outstanding business increased at the weakest rate since September 2016. Meanwhile, job creation remained solid and input price inflation was still high. Among Eurozone's largest economies, French services activity fell for the first time since June 2016, reflecting a disruption to activity from the recent ‘gilet jaunes’ movement. Meanwhile, growth in Germany was the slowest since September 2016 and activity in Italy rose only marginally; while Spanish service sector growth was unmoved at a robust rate. Services PMI in the Euro Area is reported by Markit Economics.

Services PMI in Euro Area is expected to be 52.10 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Euro Area to stand at 54.60 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 53.30 Index Points in 2020, according to our econometric models.

Euro Area Services PMI
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Euro Area Business Last Previous Highest Lowest Unit
Business Confidence 0.82 1.04 1.62 -3.28 Index Points [+]
Manufacturing PMI 51.40 51.80 60.60 33.50 [+]
Services PMI 51.20 53.40 58.30 39.20 Index Points [+]
Composite Pmi 51.10 52.70 58.80 45.70 Index Points [+]
Industrial Production -3.30 1.20 9.60 -21.30 percent [+]
Industrial Production Mom -1.70 0.10 3.30 -3.90 percent [+]
Manufacturing Production -3.10 1.50 10.00 -21.80 percent [+]
Capacity Utilization 83.90 84.10 85.30 69.60 percent [+]
Changes In Inventories 24.92 14.80 25.09 -27.31 EUR Billion [+]
Zew Economic Sentiment Index -21.00 -22.00 89.90 -63.70 [+]
Car Registrations 862.12 806.26 1169.19 669.00 Thousand [+]
Mining Production -8.20 -5.40 42.30 -27.80 percent [+]

Euro Area Services PMI

The Eurozone Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 2,000 private service sector firms. National services data are included for Germany, France, Italy, Spain and the Republic of Ireland. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. This page provides the latest reported value for - Euro Area Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Services PMI - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
51.20 53.40 58.30 39.20 2007 - 2018 Index Points Monthly

Country Last Previous
Australia 52.10 Dec/18
Brazil 51.90 Dec/18
China 53.90 Dec/18
Euro Area 51.20 Dec/18
France 49.00 Dec/18
Germany 51.80 Dec/18
India 53.20 Dec/18
Italy 50.50 Dec/18
Japan 51.00 Dec/18
Russia 54.40 Dec/18
Spain 54.00 Dec/18
United Kingdom 51.20 Dec/18
United States 54.40 Dec/18