The IHS Markit Eurozone Services PMI was revised slightly higher to 48.0 in September 2020, from a preliminary estimate of 47.6 and compared to August's final 50.5. The latest reading signaled a fall back into contraction of the services economy, as overall new business fell for a second straight month and export business was also down markedly, extending the current period of contraction to over two years. In addition, employment continued to fall and backlogs of work outstanding declined for a seventh successive month. On the price front, operating expenses rose for a fourth straight month, while output charges declined again. Finally, looking ahead to the coming 12 months, business confidence strengthened in September. By country, Spain recorded by far the steepest monthly fall, followed by Ireland. Germany was the only services economy to register growth.

Services PMI in the Euro Area averaged 51.46 points from 2007 until 2020, reaching an all time high of 58.30 points in June of 2007 and a record low of 12 points in April of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Markit Economics

Services PMI in Euro Area is expected to be 47.00 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 52.50 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 51.00 points in 2021 and 54.00 points in 2022, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.00 50.50 58.30 12.00 2007 - 2020 points Monthly


News Stream
Eurozone Services PMI Revised Slightly Higher
The IHS Markit Eurozone Services PMI was revised slightly higher to 48.0 in September 2020, from a preliminary estimate of 47.6 and compared to August's final 50.5. The latest reading signaled a fall back into contraction of the services economy, as overall new business fell for a second straight month and export business was also down markedly, extending the current period of contraction to over two years. In addition, employment continued to fall and backlogs of work outstanding declined for a seventh successive month. On the price front, operating expenses rose for a fourth straight month, while output charges declined again. Finally, looking ahead to the coming 12 months, business confidence strengthened in September. By country, Spain recorded by far the steepest monthly fall, followed by Ireland. Germany was the only services economy to register growth.
2020-10-05
Eurozone Service Activity Unexpectedly Contracts
The IHS Markit Eurozone Services PMI fell to 47.6 in September of 2020 from 50.5 in the previous month and below market expectations of 50.5, a preliminary estimate showed. The reading pointed to a renewed downturn in the service sector, which was often linked to resurgent coronavirus disease 2019 infection rates. It was the largest contraction of output since May, albeit with the rate of decline running far weaker than seen during the height of the pandemic. The rate of job losses increased slightly, and backlogs of work fell faster due to the latter’s drop in inflows of new business. Looking ahead, business expectations about the coming 12 months improved.
2020-09-23
Eurozone Services PMI Revised Higher
The IHS Markit Eurozone Services PMI was revised higher to 50.5 in August 2020 from a preliminary estimate of 50.1 and compared to July's 54. Still, the reading pointed to a slower expansion in the services sector, amid a resurgence of coronavirus infections in some countries in the region. New orders dropped slightly as export sales declined for the twenty-fourth consecutive month. Job losses were recorded for the sixth straight month as firms grew more cautious about the future. Lower employment was seen across the region, with the exception of Germany where a slight rise was registered. On the price front, input cost inflation accelerated to a six-month high while output charges continued to fall in line with the challenging economic environment. Lastly, sentiment deteriorated to a three-month low.
2020-09-03
Eurozone Services Activity Growth Slows in August
The IHS Markit Eurozone Services PMI fell to 50.1 in August 2020 from 54.7 in the previous month and below market expectations of 54.5, a preliminary estimate showed. The latest reading pointed to a slower expansion in the services sector, amid a resurgence in coronavirus infections in some countries in the region. Levels of business activity were broadly unchanged and new orders growth eased mainly due to new export sales as travel restrictions were reimposed in some countries following rises in COVID-19 cases. Additionally, employment dropped for the sixth straight month. On the price front, input cost prices rose at the faster pace in six months and output charges fell at a slower rate. Lastly, business confidence towards future activity softened.
2020-08-21

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.