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.

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Germany Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
34.50 52.50 60.30 34.50 2007 - 2020 points Monthly


News Stream
German Service Sector Output Falls Most on Record
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.
2020-03-24
German Service Sector Grows Less than Initially Thought
The IHS Markit Germany Services PMI was revised lower to 52.5 in February 2020 from a preliminary estimate of 53.3 and below January's five-month high of 54.2. The latest reading pointed to the weakest pace of expansion in the service sector since last November, as inflows of new business rose only marginally due to the steepest decline in new export business since this series began in September 2014. The sharp downturn in exports affected almost all monitored sub-sectors and was partly linked by survey participants to the coronavirus outbreak. In addition, the pace of job creation hit a 46-month low and backlogs of work fell at a faster rate. On the price front, input cost inflation eased from January's nine-month high, while average prices charged rose at the slowest rate for more than two-and-a-half years. Looking ahead, business confidence weakened on uncertainties towards global economic conditions, the car industry, Brexit and the effects of the coronavirus outbreak.
2020-03-04
German Service Growth Slows More than Forecast
The IHS Markit Germany Services PMI fell to 53.3 in February 2020 from 54.2 in the previous month, below market expectations of 53.8, a preliminary estimate showed. New export orders continued to fall in the wake of the outbreak of the coronavirus and employment growth slowed to a 21-month low. On the price front, output cost inflation softened to a 31-month low, while input prices rose at a solid rate. Finally, expectations for output over the next 12 months weakened.
2020-02-21
Germany Services Growth Confirmed at 5-Month High
The IHS Markit Germany Services PMI came in at 54.2 in January of 2020, unrevised from the previous estimate and higher than 52.9 in December. The reading pointed to the strongest growth in the services sector in five months, amid faster increases in business activity, inflows of new work and employment. Yet, new business rose the most in seven months due to new client acquisitions and greater inflows of new work from existing customers; export orders fell the least in 11 months; and job creation was the strongest in seven months. On the price front, cost pressures were the highest in nine months due to wages, rent, fuel and energy cost. Finally, expectations for business activity over the next 12 months reached the highest since April last year. A positive trend in new business, plans for company expansions and increased marketing efforts were all factors that supported firms' optimism.
2020-02-05

Germany Services PMI
The Germany Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 500 companies based in the German service sector. 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.