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. source: Markit Economics
Services PMI in Germany averaged 52.83 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 July 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.