The IHS Markit Germany Services PMI fell to 48.9 in October of 2020 from 50.6 in September and below market expectations of 49. The reading pointed to the first contraction in the services sector in four months, amid new restrictions and heightened uncertainty due to a second wave of coronavirus cases, preliminary estimates showed. New business fell for the first time in four months, led by a sharp and accelerated fall in foreign demand. On the other hand, employment continued to increase. source: Markit Economics
Services PMI in Germany averaged 52.82 points from 2007 until 2020, reaching an all time high of 60.30 points in January of 2011 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 2020.
Services PMI in Germany is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Germany to stand at 53.20 in 12 months time. In the long-term, the Germany Services PMI is projected to trend around 53.00 points in 2021 and 54.00 points in 2022, according to our econometric models.