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.