Eurozone Services PMI Revised Slightly Higher

2025-12-03 09:13 By Judith Sib-at 1 min. read

The HCOB Eurozone Services PMI was revised slightly up to 53.6 in November 2025 from a preliminary estimate of 53.1, compared to 53 in October.

This was the sixth consecutive month of growth and the fastest pace since May 2023.

The faster increase in activity was supported by stronger sales growth, as demand improved for a fourth straight month and at the quickest rate in 18 months.

Still, service providers were able to clear backlogs of work, reversing October’s slight increase.

Employment continued to rise, extending its nearly five-year growth streak, although the rate of job creation eased from October’s 16-month high.

Moreover, business confidence improved slightly, with optimists still outnumbering pessimists.

However, expectations remained below their long-term average.

Regarding prices, cost pressures picked up slightly, although input price inflation was among the lowest over the past 12 months.

Output charges increased at the softest pace in over four-and-a-half years.



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