The S&P Global Germany Services PMI was revised slightly higher to 49.7 in July of 2022 from a preliminary of 49.2, but still pointed to the first contraction in the services sector since December, amid a combination of waning client confidence and a squeeze on both household and company finances. New business fell for a second month but the labour market continued to show resilience as firms looked to expand capacity. At the same time, both input and output price inflation retreated further but remained elevated. Finally, business expectations turned negative for the first time since the first wave of covid-19 in 2020, due to concerns about high inflation and rising interest rates and prospect of a gas shortage. source: Markit Economics

Services PMI in Germany averaged 52.82 points from 2007 until 2022, 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 August of 2022.

Services PMI in Germany is expected to be 54.20 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 55.10 points in 2023 and 54.50 points in 2024, according to our econometric models.

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Germany Services PMI



Related Last Previous Unit Reference
Services PMI 49.70 52.40 points Jul 2022
Manufacturing PMI 49.30 52.00 points Jul 2022
Composite PMI 48.10 51.30 points Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
49.70 52.40 61.80 16.20 2007 - 2022 points Monthly

News Stream
Germany Services Sector Shrinks, High Inflation Weighs
The S&P Global Germany Services PMI was revised slightly higher to 49.7 in July of 2022 from a preliminary of 49.2, but still pointed to the first contraction in the services sector since December, amid a combination of waning client confidence and a squeeze on both household and company finances. New business fell for a second month but the labour market continued to show resilience as firms looked to expand capacity. At the same time, both input and output price inflation retreated further but remained elevated. Finally, business expectations turned negative for the first time since the first wave of covid-19 in 2020, due to concerns about high inflation and rising interest rates and prospect of a gas shortage.
2022-08-03
German Services Shrink for 1st Time in 7 Months
The S&P Global Germany Services PMI declined to 49.2 in July of 2022 from 52.4 in the previous month and missing market expectations of 51.2, flash estimates showed. The latest reading pointed to the first contraction in services activity in seven months, amid a combination of staff shortages and a retrenchment of new business. Sales in the service sector declined for a second successive month and to the sharpest degree since February 2021. Looking ahead, service providers foresee reduced activity over the next 12 months when compared to present levels for the first time in over two years.
2022-07-22
Germany Services PMI Confirmed at 5-Month Low
The S&P Global Germany Services PMI was confirmed at 52.4 in June of 2022, matching initial estimates, and pointing to the slowest growth in services activity in five months, reflecting the easing of post-lockdown catch-up effects and rising economic uncertainty and sustained strong price pressures. New business fell for the first time in six months, partially due to renewed weakness in international client demand. Also, the pace of job creation eased notably to the lowest since March 2021 and price pressures remained elevated although output price inflation eased to a three-month low. Finally, business expectations were at their lowest since October 2020, reflecting concerns over weakening demand, rising prices, increasing interest rates and continued supply chain frictions.
2022-07-05