The IHS Markit Eurozone Services PMI was revised lower to 59.0 in August 2021, from a preliminary estimate of 59.7 and below the previous month's 15-year high of 59.8. New business intakes rose at a slower pace, but the increase was notably stronger than seen on average over the series history, and export demand growth was the second-fastest since the series began in 2014. In addition, the pace of job creation was unchanged from July's three-year high, while backlogs of work increased for a fifth successive month. On the price front, input cost inflation hit a 13-year high, while selling prices rose at a slower rate. Finally, business confidence slid to a four-month low, but remained historically elevated as hopes of a continued recovery supported optimism. source: Markit Economics

Services PMI in the Euro Area averaged 51.42 points from 2007 until 2021, reaching an all time high of 59.80 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 September of 2021.

Services PMI in Euro Area is expected to be 58.40 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 55.00 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
59.00 59.80 59.80 12.00 2007 - 2021 points Monthly


News Stream
Eurozone August Services PMI Revised Lower
The IHS Markit Eurozone Services PMI was revised lower to 59.0 in August 2021, from a preliminary estimate of 59.7 and below the previous month's 15-year high of 59.8. New business intakes rose at a slower pace, but the increase was notably stronger than seen on average over the series history, and export demand growth was the second-fastest since the series began in 2014. In addition, the pace of job creation was unchanged from July's three-year high, while backlogs of work increased for a fifth successive month. On the price front, input cost inflation hit a 13-year high, while selling prices rose at a slower rate. Finally, business confidence slid to a four-month low, but remained historically elevated as hopes of a continued recovery supported optimism.
2021-09-03
Eurozone Service Sector Growth Holds Near 15-Year High
The IHS Markit Eurozone Services PMI stood at 59.7 in August 2021, little-changed from the previous month's 15-year high of 59.8 and compared with market expectations of 59.8, a preliminary estimate showed. Output and new order growth rates cooled from recent peaks as some firms came under pressure from the recent rise in COVID-19 cases, while jobs growth reached the highest since September 2018.
2021-08-23
Eurozone Services Activity Growth at 15-Year High
The IHS Markit Eurozone Services PMI came in at 59.8 in July 2021, compared with a preliminary estimate of 60.4 and above June's final 58.3. The latest reading pointed to the steepest pace of expansion in the service sector since June 2006, due to the easing of COVID-19 restrictions. New business increased at the fastest pace in 14 years and the pace of job creation hit a near three-year high. However, operating capacities were tested in July, as evidenced by a joint-record increase in backlogs of work. On the price front, both output charge and input cost inflation rates remained historically elevated. Finally, firms retained an exceedingly optimistic view towards future activity prospects in July, although the level of positive sentiment receded to a three-month low.
2021-08-04
Eurozone Services Activity Growth Hits 15-Year High
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.
2021-07-23

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.