The IHS Markit Eurozone Services PMI advanced to 53.6 in June of 2019 from 52.9 in the previous month and above flash estimates of 53.4. The latest reading pointed to the strongest growth of activity since October 2018. Higher overall services activity in the euro area was associated with a similar-sized and stronger increase in new business volumes; and backlogs of work increased strongly. Also, jobs were created at a faster rate across the euro area services economy. On the price front, net rise in costs was the weakest recorded by the survey since September 2017 while charges rose at a slightly faster rate. Finally, business sentiment slumped to a four-and-a-half-year low during June. Services PMI in the Euro Area is reported by Markit Economics.

Services PMI in Euro Area is expected to be 52.90 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 53.20 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 54.00 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 0.17 0.30 1.62 -3.30 Index Points [+]
Manufacturing PMI 47.60 47.70 60.60 33.50 [+]
Services PMI 53.60 52.90 58.30 39.20 Index Points [+]
Composite Pmi 52.20 51.80 58.80 45.70 Index Points [+]
Industrial Production -0.50 -0.40 9.70 -21.40 percent [+]
Industrial Production Mom 0.90 -0.40 3.30 -4.00 percent [+]
Manufacturing Production -0.60 -0.50 10.00 -21.70 percent [+]
Capacity Utilization 82.80 83.60 85.30 69.60 percent [+]
Changes In Inventories 5.76 13.06 25.42 -27.22 EUR Billion [+]
Zew Economic Sentiment Index -20.30 -20.20 89.90 -63.70 [+]
Car Registrations 896.89 961.38 1169.19 669.00 Thousand [+]
Mining Production -6.50 -7.50 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
53.60 52.90 58.30 39.20 2007 - 2019 Index Points Monthly

Country Last Previous
Australia 52.20 Jun/19
Brazil 48.20 Jun/19
China 52.00 Jun/19
Euro Area 53.60 Jun/19
France 52.90 Jun/19
Germany 55.80 Jun/19
India 49.60 Jun/19
Italy 50.50 Jun/19
Japan 51.90 Jun/19
Russia 49.70 Jun/19
Spain 53.60 Jun/19
United Kingdom 50.20 Jun/19
United States 51.50 Jun/19