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.

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Germany Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 52.00 54.80 points Jun 2022
Services PMI 52.40 55.00 points Jun 2022
Composite PMI 51.30 53.70 points Jun 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
52.40 55.00 61.80 16.20 2007 - 2022 points Monthly

News Stream
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
Germany Services Growth Eases More than Expected
The S&P Global Germany Services PMI fell to 52.4 in June of 2022 from 55 in May, missing market expectations of 54.5, a preliminary estimate showed. The latest reading pointed to the slowest growth in the services sector in 5 months amid a waning of demand and some reports of staff shortages. New orders fell for the first time in six months and job growth slowed. On the price front, average prices charged eased while operating expenses posted a record rise at the end of the second quarter, with energy, fuel, wages and higher borrowing costs all highlighted as sources of cost pressure. Finally, services expectations were little-changed from the previous month, but remained subdued by historical standards.
2022-06-23
Germany Services PMI Revised to 4-Month Low
The S&P Global Germany Services PMI was revised lower to 55 in May of 2022 from a preliminary of 56.3. Figures pointed to the slowest growth in the services sector in four months as the post-lockdown rebound was starting to fade and rising prices were straining demand. Rates of both input cost and output price inflation remained remarkably high, although they did ease slightly from April's record levels. Positively, the labour market continued to be boosted by firms' efforts to expand operating capacity, with employment growth even gathering pace midway through the second quarter. That was despite firms' confidence towards growth prospects in the coming year remaining low.
2022-06-03