The IHS Markit Eurozone Services PMI was revised higher to 50.5 in August 2020 from a preliminary estimate of 50.1 and compared to July's 54. Still, the reading pointed to a slower expansion in the services sector, amid a resurgence of coronavirus infections in some countries in the region. New orders dropped slightly as export sales declined for the twenty-fourth consecutive month. Job losses were recorded for the sixth straight month as firms grew more cautious about the future. Lower employment was seen across the region, with the exception of Germany where a slight rise was registered. On the price front, input cost inflation accelerated to a six-month high while output charges continued to fall in line with the challenging economic environment. Lastly, sentiment deteriorated to a three-month low.

Services PMI in the Euro Area averaged 51.48 points from 2007 until 2020, reaching an all time high of 58.30 points in June of 2007 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 September of 2020. source: Markit Economics

Services PMI in Euro Area is expected to be 43.00 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 53.60 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 51.00 points in 2021 and 54.00 points in 2022, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.50 54.70 58.30 12.00 2007 - 2020 points Monthly


News Stream
Eurozone Services PMI Revised Higher
The IHS Markit Eurozone Services PMI was revised higher to 50.5 in August 2020 from a preliminary estimate of 50.1 and compared to July's 54. Still, the reading pointed to a slower expansion in the services sector, amid a resurgence of coronavirus infections in some countries in the region. New orders dropped slightly as export sales declined for the twenty-fourth consecutive month. Job losses were recorded for the sixth straight month as firms grew more cautious about the future. Lower employment was seen across the region, with the exception of Germany where a slight rise was registered. On the price front, input cost inflation accelerated to a six-month high while output charges continued to fall in line with the challenging economic environment. Lastly, sentiment deteriorated to a three-month low.
2020-09-03
Eurozone Services Activity Growth Slows in August
The IHS Markit Eurozone Services PMI fell to 50.1 in August 2020 from 54.7 in the previous month and below market expectations of 54.5, a preliminary estimate showed. The latest reading pointed to a slower expansion in the services sector, amid a resurgence in coronavirus infections in some countries in the region. Levels of business activity were broadly unchanged and new orders growth eased mainly due to new export sales as travel restrictions were reimposed in some countries following rises in COVID-19 cases. Additionally, employment dropped for the sixth straight month. On the price front, input cost prices rose at the faster pace in six months and output charges fell at a slower rate. Lastly, business confidence towards future activity softened.
2020-08-21
Eurozone Service Activity Grows the Most in 2 Years
The IHS Markit Eurozone Services PMI was revised lower to 54.7 in July 2020 from a preliminary estimate of 55.1, still pointing to the steepest month of expansion in the sector since September 2018 as the economy recovers from the coronavirus hit. Levels of incoming new business rose at a relatively modest pace mainly boosted by domestic demand, while export sales declined for a 23rd successive month. Backlogs of work continued to fall and employment contracted for a fifth straight period. On the price front, operating expenses increased for a second month, while output charges declined for a fifth month in a row as a challenging business environment and efforts to support sales led to another period of discounting. Finally, business confidence about the year ahead strengthened further during July, reaching the highest level for five months.
2020-08-05
Eurozone Services Expand the Most for Over 2 Years
The IHS Markit Eurozone Services PMI rose to 55.1 in July 2020 from 48.3 in the previous month, easily beating market consensus of 51.0, a preliminary estimate showed. The latest reading signaled the steepest month of expansion in the sector since June 2018 as economies continued to reopen after lockdowns implemented to curb the spread of COVID-19. New business returned to growth despite a continued fall in exports, while employment fell for a fifth straight month and at a sharp pace. Looking ahead, expectations of future output continued to improve from March's record low.
2020-07-24

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.