The IHS Markit Eurozone Services PMI was revised higher to 52.5 in January 2020 from a preliminary estimate of 52.2 and compared to the previous month's final 52.8. Service sector growth slowed in France and Spain, while all other nations registered stronger expansion. Overall new work continued to increase at a solid pace despite another fall in new export business, the seventeenth in successive months. Also, employment rose at a faster rate while backlogs of work were up only marginally. On the price front, input cost inflation picked up to a nine-month high while charges rose modestly. Finally, business confidence about the future was the strongest recorded since last April.

Services PMI in the Euro Area averaged 52.04 points from 2007 until 2020, reaching an all time high of 58.30 points in June of 2007 and a record low of 39.20 points in February of 2009. 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. source: Markit Economics

Services PMI in Euro Area is expected to be 52.60 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 53.30 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 54.00 points in 2021, according to our econometric models.


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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.50 52.80 58.30 39.20 2007 - 2020 points Monthly


News Stream
Eurozone Service Growth Stronger than Initially Thought
The IHS Markit Eurozone Services PMI was revised higher to 52.5 in January 2020 from a preliminary estimate of 52.2 and compared to the previous month's final 52.8. Service sector growth slowed in France and Spain, while all other nations registered stronger expansion. Overall new work continued to increase at a solid pace despite another fall in new export business, the seventeenth in successive months. Also, employment rose at a faster rate while backlogs of work were up only marginally. On the price front, input cost inflation picked up to a nine-month high while charges rose modestly. Finally, business confidence about the future was the strongest recorded since last April.
2020-02-05
Eurozone Services Activity Growth Slows in January
The IHS Markit Eurozone Services PMI fell to 52.2 in January 2020 from 52.8 in the previous month and below market forecasts of 52.8, a flash estimate showed. The latest reading pointed to a softer expansion in the services sector, as new orders growth eased and output advanced modestly. The rate of job creation remained solid while a marginal increase was seen in outstanding business. On the price front, input cost inflation quickened sharply and output prices rose.
2020-01-24
Eurozone Services PMI Revised to 4-Month High
The IHS Markit Eurozone Services PMI was revised higher to a four-month high of 52.8 in December 2019 from a preliminary estimate of 52.4 and above the previous month's final reading of 51.9. New work growth picked up, despite a persistent decline in new export business, and outstanding business increased for the first time in five months. Meanwhile, employment continued to rise, but at its softest pace since the start of 2019. On the price front, input cost inflation was little-changed at a marked level on the back of rising staffing costs, while output charges were up only slightly, squeezing margins. Looking ahead to the coming 12 months, business confidence about the future strengthened to its highest level since July, led by a strong improvement in sentiment amongst German service providers.
2020-01-06
Euro Area Services Growth at 4-Month High
The IHS Markit Flash Eurozone Services PMI edged up to 52.4 in December of 2019 from 51.9 in November, beating market forecasts of 52. The reading pointed to the fastest growth in the services sector in four months. Among countries for which flash data is available, French services sector grew at a slightly higher rate (52.4 from 52.2 in November), despite strikes that hit the country in December triggered by plans to reform France’s pension system; and in Germany, services growth was stable (52). Expectations for future output dipped slightly, with companies’ concerns once again centred on geopolitical uncertainty, notably including Brexit-related disruption and US trade wars, alongside more general concerns about slowing global economic growth in 2020.
2019-12-16

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.