The S&P Global Eurozone Services PMI dropped to 52.8 in June 2022 from 56.1 in the previous month and compared with the market consensus of 55.5, a preliminary estimate showed. The latest reading showed that inflows of new business rose at a much softer pace, with growth down to the second-lowest level since May 2021. On top of that, the record surge in tourism growth seen in the last two months stagnated in June, with firms blaming the rising costs of living and slowing pent-up demand. Overall job creation moderated to a 13-month low as firms scaled back hiring plans amid a worsening outlook for growth. On the price front, input costs continued to ease while output charges increased to a two-month high amid rising energy and raw materials costs. source: Markit Economics
Services PMI in the Euro Area averaged 51.61 points from 2007 until 2022, reaching an all time high of 59.80 points in July of 2021 and a record low of 12 points in April of 2020. This page provides the latest reported value for - Euro Area Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.
Services PMI in Euro Area is expected to be 55.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Services PMI is projected to trend around 54.60 points in 2023 and 54.00 points in 2024, according to our econometric models.