Latest News Stream - Services Pmi

The headline S&P Global Brazil Services Business Activity Index fell to 44.5 in October 2026 from 49.2 in September, signaling the sharpest contraction in output since April 2021. The downturn was driven by a further decline in new business inflows, marking the second consecutive monthly decrease. Sales fell at the fastest pace in more than five years, as weak demand weighed on business sentiment among service providers. Although growth expectations remained positive, overall confidence slipped from September. Softer demand also affected employment, with spare capacity prompting further job cuts across Brazil's services sector. On the price front, cost pressures eased in October but remained steep by historical standards. Meanwhile, prices charged for services increased at the slowest pace since mid-2025, although the rate of inflation remained above its long-run average.

The S&P Global Russia Services PMI Business Activity Index fell to 50.1 in October 2026 from 51.3 in September, marking its lowest reading since April. The slowdown reflected weaker demand, as new orders declined for the first time in three months amid fewer clients and pressure on customer budgets. Employment returned to growth, ending an eight-month period of job shedding, although the pace of hiring remained marginal and below the historical average. Meanwhile, backlogs of work continued to decline, falling in six of the past seven months. On the price front, input cost inflation accelerated for the first time in three months, with expenses rising sharply, although the pace remained below its long-run trend. Selling prices increased at the fastest rate in eight months as firms passed higher costs on to customers. Looking ahead, business confidence weakened for the second consecutive month, falling below the 2026 average and historical trend amid continued economic uncertainty.

Japan’s S&P Global Services PMI Business Activity Index rose to 51.7 in October 2026 from 51.3 in September, but fell short of the flash estimate of 52.0, indicating a modest expansion in activity. New orders increased at a slightly faster pace, while overseas sales declined at their slowest rate in six months. Employment continued to grow, though marginally, marking the weakest pace in the 14-month job-creation streak. Meanwhile, capacity pressures persisted, as unfinished business increased further. On the price front, both input costs and output charges rose at slower rates, pointing to some easing in inflationary pressures, although inflation remained well above historical trends. Looking ahead, business confidence fell to its lowest level since March, as concerns over inflation, an ageing population, and persistent labor shortages weighed on the outlook.

The S&P Global US Services PMI fell to 56.1 in October 2026, down from September’s near five-year high of 58.8 and below the preliminary estimate of 57.9. Nevertheless, the latest reading continued to signal robust growth in services activity, led by the technology sector, with solid performances also reported across consumer-facing industries and financial services. New business inflows increased sharply again, supported by positive market demand, while service providers continued to expand their workforces. However, growth in both business activity and new orders moderated from September’s recent highs amid elevated inflation and greater economic uncertainty. Meanwhile, operating expenses rose sharply, driven partly by higher fuel prices, prompting firms to increase their own selling prices at an even faster pace. Business confidence also weakened, falling to its lowest level since May.

The S&P Global Canada Services PMI Business Activity Index edged down to 48.1 in October 2026 from 48.3 in September, remaining below the 50.0 no-change threshold for a fifth consecutive month and signaling a further contraction in activity. The decline in business activity was accompanied by a similar drop in new orders. Companies cited an uncertain economic environment, tight client budgets and slower market conditions as weighing on sales. Tariffs also continued to dampen demand, particularly for exports, which fell at the fastest pace since November 2025. Meanwhile, uncertainty surrounding Canada-US trade relations, tariffs and the war in Iran weakened business confidence, which fell from September and remained historically subdued.

The S&P Global UK Services PMI rose to 52.8 in October 2026, up from 52.1 in September, although below the preliminary estimate of 53.1. Nevertheless, the latest reading signaled the fastest expansion in services activity since February, supported by improving customer demand and stronger order books. Some firms reported increased sales linked to AI investment spending, receding client risk aversion and more supportive economic conditions, although squeezed household budgets and geopolitical uncertainty continued to weigh on demand. Total new business increased at the fastest pace since January, and employment returned to growth for the first time in two years. Meanwhile, backlogs of work continued to decline. On the price front, input costs rose at their fastest pace in five months, while output price inflation eased slightly as intense competition continued to limit firms' pricing power. Business confidence also improved, reaching its highest level since February.

The S&P Global Eurozone Services PMI was revised lower to 51.4 in October 2026 from a preliminary of 51.7 and compared to 53 in September, signalling a slowdown in the services sector at the start of the fourth quarter. New business intakes dipped slightly, a notable deviation from the solid growth seen throughout each month of the third quarter. To support activity, firms depleted backlogs of work. Outstanding order volumes declined for the eleventh time in the past 12 months. October data signalled a renewed drop in services employment, the first seen since May. Price pressures in the service sector eased slightly, with the rates of inflation for output charges and input costs ticking down for the first time since July.

The S&P Global France Services PMI fell to 46.2 in October 2026, revising lower from the preliminary estimate of 48.4 and slipping from 51.2 in the previous month. This marked the steepest contraction since May, primarily driven by subdued demand, tighter financial conditions and cautious client behavior. New business declined at its fastest pace in five months, largely reflecting weaker domestic demand, while export orders edged higher. Employment also fell, extending the current period of job losses to six months, as firms cited restructuring, retirements and the expiration of fixed-term contracts. On the price front, cost pressures remained elevated across the services sector, driven by higher fuel prices, supplier fees and wages. Service providers responded by raising selling prices in an effort to pass on increased costs to clients. Lastly, French service providers turned pessimistic about the 12-month outlook for the first time since April 2020.

The S&P Global Italy Services PMI rose to 52.0 in October 2026 from a three-month low of 51.7 in the previous month, beating market forecasts of 51.5. This marked the fifth consecutive month of expansion and a return to its long-run trend. Activity was supported by stronger new business inflows, particularly from the domestic market, as new contracts and customer wins lifted order books. However, export sales growth moderated to a fractional pace. Employment increased at a slightly faster rate as backlogs of work rose for the first time in seven months, encouraging further recruitment, although job creation remained marginal. On the price front, input cost inflation surged to its highest level in almost four years, largely reflecting energy-related pressures linked to the Middle East conflict. Output price inflation also picked up as firms faced mounting cost pressures. Meanwhile, business confidence strengthened to its highest level since November 2025.

Germany’s S&P Global Services PMI was revised higher to 52.5 in October 2026 from a preliminary estimate of 51.7, but eased from 52.9 in September. This indicated continued expansion for a second consecutive month, albeit at a slightly slower pace, as new business inflows declined again, partly due to weaker domestic and foreign demand. Meanwhile, activity was supported by work on outstanding orders. Employment also fell for the first time since July, marking the sharpest decline in six months. On the price front, input cost inflation eased for the first time in four months, partly reflecting the reinstatement of fuel discounts, although price pressures remained elevated by historical standards. Output price inflation also moderated. Despite softer demand and declining employment, business confidence improved to its highest level since February, supported by hopes of a recovery in economic conditions.

The S&P Global Services PMI eased to 57.2 in October 2026 from 58.3 in September, marking its lowest reading in four months, although it continued to signal robust expansion in the services sector. New business volumes continued to grow, supported by stronger demand and improved market conditions. However, the pace of growth slowed to a five-month low, hampered by weaker export demand. New export business fell for the second month, with the latest decline the steepest since May. Meanwhile, employment continued to rise in October, with job creation reaching its fastest pace since July. In terms of prices, input price inflation accelerated to a seven-month high, due to elevated energy, fuel and transport costs plus a general increase in supplier prices. In turn, output price inflation eased from September’s five-month high, amid competitive pressures. Looking ahead, confidence in the outlook remained positive overall, with sentiment strengthening to its highest level since February.

The Services PMI in Sweden fell to 55.7 in October 2026 from a downwardly revised 57.3 in September, marking its lowest reading in three months. Still, the index remained above the average for the first ten months of the year for a third consecutive month. The decline in the PMI was broad-based, with the new orders (56.1 vs. 58.8 in September) and delivery times (57.0 vs. 61.7) sub-indexes accounting for the largest declines. The business activity index edged down to 57.1 from 57.5. In contrast, the employment sub-index rose for the second month in a row (51.9 vs. 50.3). Cost pressures remained elevated, with the suppliers’ input price index falling to 71.7 from 73.2 but staying well above its historical average of 58.5. Meanwhile, the Composite PMI dropped to 57.0 from 57.7. Jörgen Kennemar, responsible for the PMI analysis, said: “Growth in the private sector remains broad, with the stronger industrial economy offsetting the weaker development in the services sector.”

The HSBC India Services PMI was revised lower to 55.8 in October 2026 from the preliminary estimate of 56.2, but remained above the previous month's reading of 55.2. Still, it marked the fastest expansion in the services sector since June, as both output and sales growth reached four-month highs. The domestic market remained the main source of sales, although new export business also increased. However, the rate of expansion was marginal and the weakest since February 2023. Employment growth eased, with job creation at its weakest in the current ten-month period. On the price front, input cost inflation eased to its lowest level in over six years and remained well below trend, despite higher electricity, labour, raw material, and transportation costs. Output costs rose marginally, at the slowest pace since June. Looking ahead, business sentiment remained positive but weakened from the previous month, remaining below its long-run average.

The AIB Ireland Services PMI Business Activity Index edged up to 54.3 in October 2026 from 54.1 in September, signaling a sixth consecutive month of expansion, although growth remained below its long-run average. Technology, Media & Telecom continued to lead sectoral growth, followed by Transport, Tourism & Leisure and Business Services, while Financial Services recorded the slowest expansion. New business continued to increase solidly, albeit at a softer pace, with international demand broadly stagnating. Employment also rose modestly, while outstanding business declined for the first time in five months. On the price front, input cost inflation accelerated to a five-month high, driven mainly by higher fuel, energy and wage costs, while service charges increased at their fastest pace since February 2023. Lastly, business sentiment weakened to a six-month low as inflationary pressures and economic uncertainty weighed on the 12-month outlook.

The S&P Global Australia Services PMI Business Activity Index fell to 48.5 in October 2026 from 51.9 in September, marking a seven-month low and slipping below the 50.0 neutral threshold for the first time since May. Still, the index came above estimates of 47.8. Slower new business growth and operational constraints contributed to the contraction. Nevertheless, total new business continued to increase, supported by foreign demand amid stronger overseas interest and rising tourism activity. Service providers also resumed hiring after cutting staff at the end of the third quarter. Meanwhile, higher fuel, freight, labour and operating costs drove input price inflation to a five-month high. Output prices also increased at their fastest pace in three months, exceeding the long-run survey average. Despite mounting cost pressures and weaker activity, business sentiment remained positive, with firms anticipating new projects and growth initiatives to boost sales over the coming year.

The S&P Global US Services PMI eased to 57.9 in October 2026 from 58.8 in September and marginally below market forecasts of 58, according to a flash estimate. The latest reading marked the seventh straight month of growth in business activity, with the pace of expansion remaining among the strongest since 2011, despite a slight moderation from September. New business growth accelerated to its fastest pace since March 2022, supported by stronger domestic demand, while export orders recorded their largest increase since July 2023. Employment growth moderated compared with September but was still the third largest for over four years. However, price pressures intensified, with services inflation reaching its highest level since August 2022. This reflected a further sharp increase in business costs, driven by rising fuels, alongside higher wages and rising utility and insurance expenses. Business output expectations for the 12 months ahead cooled down from September's one-year high.

The S&P Global UK Services PMI rose to 53.1 in October 2026 from 52.1 in September, above market forecasts of 51.8, flash estimates showed. The latest data showed that growth in overall service sector accelerated to its highest level in eight months, led by a marked improvement in new orders. A number of firms cited a boost to sales from AI investment spending and rising demand for technology services. Employment growth resumed in October, supported by an influx of new projects and a focus on long-term business expansion, although many firms continued to adopt cautious hiring strategies. Meanwhile, price pressures remained elevated. Lastly, business sentiment improved, with service providers highlighting planned investment in new products and marketing initiatives, alongside a gradual recovery in expectations for broader market conditions.

The S&P Global Eurozone Services PMI fell to 51.7 in October 2026 from 53.0 in the previous month, coming in below market expectations of 52.5. This marked a two-month low, indicating a moderation in services sector growth. The pace of job creation slowed to a five-month low, reflecting weaker growth in new business and reduced pressure on operating capacity. French services activity returned to contraction, while growth also softened elsewhere in the eurozone. Services input cost inflation eased, although firms faced a less favorable business outlook amid slowing activity and persistent inflationary pressures.

Germany’s Services PMI fell to 51.7 in October 2026 from 52.9 in September, missing market expectations of 52.5, according to preliminary data. Although activity expanded for a second consecutive month, growth remained modest as demand stagnated amid delayed customer decisions and tighter client budgets. Services firms also reported a renewed decline in outstanding work. Despite easing capacity pressures at the start of the fourth quarter, companies continued to recruit, marking a third consecutive month of employment growth. However, job creation remained marginal and unchanged from September. On the price front, input cost inflation slowed, partly reflecting fuel discounts, while service providers moderated their own price increases amid competitive pressures. Looking ahead, business confidence in the services sector improved to its highest level since February, indicating stronger growth expectations despite subdued demand and limited momentum in current activity.