The IHS Markit Eurozone Services PMI increased to 52.9 in May of 2019 from 52.8 in the previous month and above preliminary estimates of 52.5. Solid growth occurred in spite of a slowdown in the rate of new business expansion to a three-month low and backlogs of work increased slightly for the first time in three months. Employment in the service sector continued to rise markedly over the month, extending the current run of continuous expansion to over four-and-a-half years. Finally, business sentiment remained subdued in May, falling to its weakest level for four months. Services PMI in the Euro Area is reported by Markit Economics.

Services PMI in Euro Area is expected to be 53.20 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Euro Area to stand at 52.60 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 54.00 Index Points in 2020, according to our econometric models.

Euro Area Services PMI
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Euro Area Business Last Previous Highest Lowest Unit
Business Confidence 0.30 0.42 1.62 -3.30 Index Points [+]
Manufacturing PMI 47.70 47.90 60.60 33.50 [+]
Services PMI 52.90 52.80 58.30 39.20 Index Points [+]
Composite Pmi 51.80 51.50 58.80 45.70 Index Points [+]
Industrial Production -0.40 -0.70 9.70 -21.40 percent [+]
Industrial Production Mom -0.50 -0.40 3.30 -3.90 percent [+]
Manufacturing Production 0.30 0.80 10.00 -21.80 percent [+]
Capacity Utilization 82.80 83.60 85.30 69.60 percent [+]
Changes In Inventories 5.76 13.06 25.42 -27.22 EUR Billion [+]
Zew Economic Sentiment Index -20.20 -1.60 89.90 -63.70 [+]
Car Registrations 934.92 892.52 1169.19 669.00 Thousand [+]
Mining Production -3.40 -1.80 42.30 -27.80 percent [+]

Euro Area Services PMI

The Eurozone Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 2,000 private service sector firms. National services data are included for Germany, France, Italy, Spain and the Republic of Ireland. 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. 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 - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
52.90 52.80 58.30 39.20 2007 - 2019 Index Points Monthly

Country Last Previous
Australia 52.50 May/19
Brazil 47.80 May/19
China 52.70 May/19
Euro Area 52.90 May/19
France 51.50 May/19
Germany 55.40 May/19
India 50.20 May/19
Italy 50.00 May/19
Japan 51.70 May/19
Russia 52.00 May/19
Spain 52.80 May/19
United Kingdom 51.00 May/19
United States 50.90 May/19