The S&P Global Eurozone Services PMI inched higher to 47.7 in May of 2026 from the five-year low of 47.6 in the previous month, revised sharply higher from the preliminary estimate of 46.4 to align with the earlier market expectations. New business inflows continued to decline, consistent with the lower purchasing power for clients since the outbreak of war in the Middle East triggered a surge in energy costs. Despite the sharp increase in input costs, output charges rose at a softer pace. Consequently, firms tapped their backlogs to soften the drop in output. The lower need for capacity drove employment levels in the services sector to drop for the first time since January of 2021. Looking ahead, business confidence improved slightly from the previous month but remained below historical averages. source: S&P Global

Services PMI In the Euro Area increased to 47.70 points in May from 47.60 points in April of 2026. Services PMI in Euro Area averaged 51.47 points from 2007 until 2026, 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.

Services PMI In the Euro Area increased to 47.70 points in May from 47.60 points in April of 2026. Services PMI in Euro Area is expected to be 46.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Services PMI is projected to trend around 51.40 points in 2027 and 52.50 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Bankruptcies QoQ 0.40 2.60 percent Mar 2026
Business Confidence -0.26 -0.27 points May 2026
Capacity Utilization 78.50 77.60 percent Jun 2026
Car Registrations 793161.50 794535.40 Units Apr 2026
Changes in Inventories 27.65 34.97 EUR Billion Mar 2026
Industrial Production YoY -2.10 -0.80 percent Mar 2026
Industrial Production MoM 0.20 0.20 percent Mar 2026
Industrial Sentiment -8.00 -7.70 points May 2026
Manufacturing Production -2.40 -0.90 percent Mar 2026
Mining Production -1.00 -4.60 percent Mar 2026
Services Sentiment 2.20 1.40 points May 2026
ZEW Economic Sentiment Index -9.10 -20.40 points May 2026


Euro Area Services PMI
The S&P Global Eurozone Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of service providers in Germany, France, Italy, Spain and Ireland. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Eurozone Services Activity Revised Higher
The S&P Global Eurozone Services PMI inched higher to 47.7 in May of 2026 from the five-year low of 47.6 in the previous month, revised sharply higher from the preliminary estimate of 46.4 to align with the earlier market expectations. New business inflows continued to decline, consistent with the lower purchasing power for clients since the outbreak of war in the Middle East triggered a surge in energy costs. Despite the sharp increase in input costs, output charges rose at a softer pace. Consequently, firms tapped their backlogs to soften the drop in output. The lower need for capacity drove employment levels in the services sector to drop for the first time since January of 2021. Looking ahead, business confidence improved slightly from the previous month but remained below historical averages.
2026-06-03
Euro Area Services Activity Lowest Since 2021
The S&P Global Eurozone Services PMI fell to 46.4 in May 2026 from 47.6 in April, below forecasts of 47.7, preliminary estimates showed. The reading pointed to the largest contraction in services sector activity since early 2021, with business activity decreasing solidly and new export orders also falling. In addition, price pressures remained elevated due to disruptions caused by the war in the Middle East and there was the first scaling back of workforce numbers since the start of 2021. In addition, service providers were at their least confident since September 2022.
2026-05-21
Euro Area Services Sector Shrinks in April
The S&P Global Eurozone Services PMI was revised up slightly to 47.6 in April 2026 from 47.4, but still fell from 50.2 in March, marking its first move into contraction in nearly a year and the sharpest decline in activity since February 2021. Demand weakened further, with new orders falling at the fastest pace since October 2023, partly due to a drop in export business. Employment was broadly unchanged for a second consecutive month, a notable shift from the strong hiring trend seen in previous years. Backlogs were reduced at the quickest pace since March 2025, suggesting firms are working through existing orders. Meanwhile, cost pressures intensified, with input and output price inflation rising to multi-year highs. Business confidence also deteriorated, dropping to its lowest level in 42 months.
2026-05-06