The IHS Markit Eurozone Services PMI rose to 60.4 in July 2021, from 58.3 in the previous month and above market consensus of 59.5, a preliminary estimate showed. The latest reading pointed to the steepest pace of expansion in the service sector in 15 years, due to the easing of COVID-19 restrictions. New order growth accelerated to the strongest level since July 2007 and employment continued to rise markedly. On the price front, input costs and output charges posted another month of solid increases. Finally, expectations for output in the year ahead eased from June's record peak, but remained strong overall. source: Markit Economics

Services PMI in the Euro Area averaged 51.37 points from 2007 until 2021, reaching an all time high of 60.40 points in July of 2021 and a record low of 12 points in April of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

Services PMI in Euro Area is expected to be 56.90 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 54.50 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 55.00 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
60.40 58.30 60.40 12.00 2007 - 2021 points Monthly


News Stream
Eurozone Services Activity Growth Hits 15-Year High
The IHS Markit Eurozone Services PMI rose to 60.4 in July 2021, from 58.3 in the previous month and above market consensus of 59.5, a preliminary estimate showed. The latest reading pointed to the steepest pace of expansion in the service sector in 15 years, due to the easing of COVID-19 restrictions. New order growth accelerated to the strongest level since July 2007 and employment continued to rise markedly. On the price front, input costs and output charges posted another month of solid increases. Finally, expectations for output in the year ahead eased from June's record peak, but remained strong overall.
2021-07-23
Eurozone Services Activity Growth Hits 14-Year High
The IHS Markit Eurozone Services PMI was revised slightly higher to 58.3 in June 2021, from a preliminary estimate of 58.0, signaling the steepest pace of expansion in the service sector since July 2007 due to the easing of coronavirus-induced measures in many eurozone member states. Growth in new work was the best recorded by the survey since July 2007 and employment rose the most since October 2018. Meanwhile, capacity came under noticeable pressure as evidenced by a rise in backlogs of work outstanding for the third month in succession. The net increase was the sharpest recorded since May 2000. On the price front, input costs rose at the strongest rate since July 2008; while output charges were raised in response to the greatest degree since October 2000. Finally, business confidence about the future was the best since August 2000.
2021-07-05
Eurozone Services Activity Expands Most in 14 Years
The IHS Markit Eurozone Services PMI rose to 58.0 in June 2021, from 55.2 in the previous month and well above market forecasts of 57.8, a preliminary estimate showed. The latest reading signaled the steepest pace of expansion in the service sector since July 2007, due to the easing of coronavirus-induced measures in many eurozone member states, notably in hospitality. In addition, services exports increased the most since at least September 2014, when data were first collected, while employment growth rate was the strongest since 2018 and backlogs of work rose the most in over two decades. On the price front, average input cost inflation was the highest since July 2008 and average prices charged for services rose the most in 20 years. Looking ahead, business confidence improved.
2021-06-23
Eurozone Service Sector Growth at 3-Year High
The IHS Markit Eurozone Services PMI was at 55.2 in May 2021, little-changed from the preliminary estimate of 55.1 and pointing to the strongest pace of expansion since June 2018. All nations recorded an improvement in activity since April, with Ireland and Spain leading the way, following the easing of COVID-19 restrictions. New business rose for the first time since last July, and at the fastest rate for 40 months. Backlogs of work increased for a second month in succession and employment growth was the strongest since February 2020. On the price front, operating expenses rose at the greatest rate for over a decade, while output charge inflation was relatively modest despite hitting a 25-month high. Looking ahead, business sentiment hit a 17-year high.
2021-06-03

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.