The IHS Markit Germany Services PMI was revised higher to 51.5 in March of 2021 from a preliminary of 50.8, pointing to the first increase in services activity in 6 months, helped by the easing of lockdown measures and recovering confidence among clients. Underlying demand remained subdued but did show signs of stabilising towards the end of the first quarter, with inflows of new work falling at the slowest rate in the current six-month sequence of contraction. A lack of new business from abroad remained a drag on overall demand, with the pandemic continuing to disrupt international sales across all parts of the private sector services economy. The pace of job creation even gathered pace slightly, though it remained modest compared to the trend seen prior to the pandemic. Meanwhile, firms' expectations for activity meanwhile hit a three-year high, amid hopes that progress in the vaccine rollout would allow restrictions to be lifted further in the coming months. source: Markit Economics
Services PMI in Germany averaged 52.66 points from 2007 until 2021, reaching an all time high of 60.30 points in January of 2011 and a record low of 16.20 points in April of 2020. This page provides the latest reported value for - Germany Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Services PMI in Germany is expected to be 54.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Germany to stand at 53.60 in 12 months time. In the long-term, the Germany Services PMI is projected to trend around 54.50 points in 2022 and 54.00 points in 2023, according to our econometric models.