The S&P Global Eurozone Services PMI rose to 50.7 in January 2023 from 49.8 in the previous month, and above market expectations of 50.2, a preliminary estimate showed. The latest reading pointed to the first month of expansion in services activity since July, driven by technology, as well as healthcare and pharmaceutical sectors, though industrial services also rebounded into growth territory. At the same time, downturns also eased in financial services, notably including real estate, and in basic resources sectors, while consumer-facing sectors such as tourism and recreation and household goods showed signs of stabilizing after several months of decline. New business placed at service providers fell only marginally and employment growth accelerated. On the price front, input cost inflation slipped to a 13-month low, while average selling price inflation ticked higher. source: Markit Economics

Services PMI in Euro Area averaged 51.53 points from 2007 until 2023, reaching an all time high of 59.80 points in July of 2021 and a record low of 12.00 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 January of 2023.

Services PMI in Euro Area is expected to be 51.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Euro Area Services PMI



Related Last Previous Unit Reference
Services PMI 50.70 49.80 points Jan 2023
Manufacturing PMI 48.80 47.80 points Jan 2023
Composite PMI 50.20 49.30 points Jan 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
50.70 49.80 59.80 12.00 2007 - 2023 points Monthly

News Stream
Eurozone Services Sector Back into Growth in January
The S&P Global Eurozone Services PMI rose to 50.7 in January 2023 from 49.8 in the previous month, and above market expectations of 50.2, a preliminary estimate showed. The latest reading pointed to the first month of expansion in services activity since July, driven by technology, as well as healthcare and pharmaceutical sectors, though industrial services also rebounded into growth territory. At the same time, downturns also eased in financial services, notably including real estate, and in basic resources sectors, while consumer-facing sectors such as tourism and recreation and household goods showed signs of stabilizing after several months of decline. New business placed at service providers fell only marginally and employment growth accelerated. On the price front, input cost inflation slipped to a 13-month low, while average selling price inflation ticked higher.
2023-01-24
Eurozone Services Contraction Softer than First Thought
The S&P Global Eurozone Services PMI was revised higher to 49.8 in December 2022, up from a preliminary estimate of 49.1 and above the previous month's 48.5. The latest reading signaled the softest decrease in service sector activity since last August, as new business declined the least in five months. At the same time, the rate of job creation picked up from the 20-month low seen previously. On the price front, input prices and output charges both rose markedly in December, although rates of inflation eased to 11- and four-month lows respectively. Finally, business confidence edged up to a four-month peak but remained historically subdued.
2023-01-04
Euro Area Services PMI Rises to 4-Month High
The S&P Global Eurozone Services PMI increased to 49.1 in December of 2022 from 48.5 in November, beating market forecasts of 48.5, preliminary estimates showed. The reading continues to point to a contraction in the services sector although the smallest in four months. The financial services sector recorded the steepest downturn while there was a notable improvement in consumer facing firms such as tourism & recreation.
2022-12-16