The IHS Markit Germany Services PMI was revised lower to 49.9 in April of 2021 from a preliminary of 50.1 and down from 51.5 in March, pointing to a broad stagnation in overall services activity as businesses were constrained by tighter lockdown measures. Inflows of new business across the service sector as a whole fell at a slightly faster rate and new business from abroad also fell further, albeit with waning momentum. Employment rose for the tenth consecutive month and the pace of job creation accelerated to the quickest since January 2020. On the price front, the rate of input price inflation moved further above the historical average to a two-year high; and firms raised charges for the second month running and to the greatest extent since February 2020 as they to offset protect margins. Expectations towards future activity also softened, though the degree of optimism was still strong by historical standards, thereby helping to support a continued recovery in employment. source: Markit Economics
Services PMI in Germany averaged 52.64 points from 2007 until 2021, reaching an all time high of 60.30 points in January of 2011 and a record low of 16.20 points in April 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 May of 2021.
Services PMI in Germany is expected to be 54.70 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 53.60 in 12 months time. In the long-term, the Germany Services PMI is projected to trend around 54.50 points in 2022 and 54.00 points in 2023, according to our econometric models.