The IHS Markit Germany Services PMI fell to 34.5 in March 2020, missing market forecasts of 42.3 and pointing to the steepest contraction in the sector since the series began in June 1997, a preliminary estimate showed. The impact of efforts to contain the spread of the Covid-19 hurt activity and demand, with new business falling at a record pace.
Services PMI in Germany averaged 53.25 points from 2007 until 2020, reaching an all time high of 60.30 points in January of 2011 and a record low of 34.50 points in March 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 2020. source: Markit Economics
Services PMI in Germany is expected to be 34.50 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 49.00 in 12 months time. In the long-term, the Germany Services PMI is projected to trend around 53.00 points in 2021 and 54.00 points in 2022, according to our econometric models.