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. 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 June of 2022.

Services PMI in Germany is expected to be 54.10 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
Services PMI 52.40 55.00 points Jun 2022
Manufacturing PMI 52.00 54.80 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 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
Germany Services Growth Eases More than Expected
The S&P Global Germany Services PMI decreased to 56.3 in May of 2022 from April’s 8-month high of 57.6 and below market expectations of 57.2, flash estimates showed. New business continued to rise, new export orders ticked up slightly and job creation growth accelerated. Turning to prices, data pointed to the continuation of historically sharp inflationary pressures although both input costs and output prices eased slightly. Finally, business confidence towards the year-ahead outlook ticked up slightly.
2022-05-24