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.