The IHS Markit Germany Services PMI dropped to 52.4 in October 2021, from 56.2 in the previous month and well below market consensus of 55.0, a preliminary estimate showed. The latest reading pointed to the weakest pace of expansion in the current period of growth stretching back to May, amid further evidence of supply chain issues. Inflows of new work rose only modestly and at the slowest rate for six months, in spite of a solid upturn in export business across the sector, while employment continued to grow strongly. On the price front, rates of input costs and output charges hit all-time highs. Looking ahead, business confidence improved in October. source: Markit Economics

Services PMI in Germany averaged 52.79 points from 2007 until 2021, reaching an all time high of 61.80 points in July of 2021 and a record low of 16.20 points in April of 2020. This page provides the latest reported value for - Germany Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

Services PMI in Germany is expected to be 55.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Services PMI is projected to trend around 54.50 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Germany Services PMI


Related Last Previous Unit Reference
Services PMI 52.40 56.20 points Oct/21
Manufacturing PMI 58.20 58.40 points Oct/21
Composite PMI 52.00 55.50 points Oct/21

News Stream
German Services Growth Eases to 6-Month Low
The IHS Markit Germany Services PMI dropped to 52.4 in October 2021, from 56.2 in the previous month and well below market consensus of 55.0, a preliminary estimate showed. The latest reading pointed to the weakest pace of expansion in the current period of growth stretching back to May, amid further evidence of supply chain issues. Inflows of new work rose only modestly and at the slowest rate for six months, in spite of a solid upturn in export business across the sector, while employment continued to grow strongly. On the price front, rates of input costs and output charges hit all-time highs. Looking ahead, business confidence improved in October.
2021-10-22
Germany Services PMI Revised Higher
The IHS Markit Germany Services PMI was revised higher to 56.2 in September of 2021 from a preliminary of 56, still pointing to the slowest albeit robust growth in the services sector in 4 months. Similar trends were observed for new business and employment, while firms' growth expectations moderated to the lowest for five months. At the same time, the rate of inflation in average prices charged by services firms ticked up to near-record high, driven by a combination of recovering demand and sharp cost pressures.
2021-10-05
Germany Services PMI Down to 4-Month Low
The IHS Markit Germany Services PMI fell to 56 in September of 2021 from 60.8 in August, well below forecasts of 60.2, preliminary estimates showed. The reading pointed to the slowest growth in services activity in 4 months, as the sector lost momentum and demand waned after a recent strong rebound as coronavirus restrictions were lifted over the Summer. New orders slowed, employment eased but remained solid, input inflation ticked down and the output one was the lowest in 4 months. Finally, business confidence remained strong but fell from August levels.
2021-09-23

Germany Services PMI
The Germany Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 500 companies based in the German service sector. 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.