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.