The IHS Markit Eurozone Services PMI was revised slightly higher to 50.5 in April 2021, from a preliminary estimate of 50.3, signaling the first expansion of business activity since last August. By country, Spain registered a marked rise in output and marginal growth was seen in France, while Germany and Italy experienced contractions. Overall new orders declined for a ninth month in a row, with new export business dropping for a 32nd successive month. while employment increased solidly. On the price front, operating expenses rose the most for 15 months, while output charge inflation remained marginal. Looking ahead, business expectations hit their highest level since May 2017. source: Markit Economics
Services PMI in the Euro Area averaged 51.26 points from 2007 until 2021, 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 May of 2021.
Services PMI in Euro Area is expected to be 53.60 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 54.00 in 12 months time. 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.