The IHS Markit Eurozone Services PMI was revised higher to 48.3 in June 2020 from a preliminary estimate of 47.3 and compared to May's 30.5. The latest reading pointed to a weaker contraction in the services sector, amid the easing of coronavirus lockdown restrictions across the region. The job shedding rate slowed and levels of work outstanding continued to fall albeit at a softer pace. Meantime, new business followed a similar trend to activity as demand struggled to gain meaningful traction despite the reopening of businesses. On the price front, operating expenses rose for the first time since February. Lastly, sentiment returned to positive territory and hit a four-month high amid optimism regarding the gradual easing of lockdown restrictions.

Services PMI in the Euro Area averaged 51.47 points from 2007 until 2020, reaching an all time high of 58.30 points in June of 2007 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 July of 2020. source: Markit Economics

Services PMI in Euro Area is expected to be 43.00 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 53.60 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 51.00 points in 2021 and 54.00 points in 2022, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
48.30 30.50 58.30 12.00 2007 - 2020 points Monthly


News Stream
Eurozone Services PMI Revised Higher
The IHS Markit Eurozone Services PMI was revised higher to 48.3 in June 2020 from a preliminary estimate of 47.3 and compared to May's 30.5. The latest reading pointed to a weaker contraction in the services sector, amid the easing of coronavirus lockdown restrictions across the region. The job shedding rate slowed and levels of work outstanding continued to fall albeit at a softer pace. Meantime, new business followed a similar trend to activity as demand struggled to gain meaningful traction despite the reopening of businesses. On the price front, operating expenses rose for the first time since February. Lastly, sentiment returned to positive territory and hit a four-month high amid optimism regarding the gradual easing of lockdown restrictions.
2020-07-03
Euro Area Services PMI Beats Forecasts
The IHS Markit Flash Eurozone Services PMI increased to 47.3 in June of 2020 from 30.5 in May, beating market forecasts of 41. It is the highest reading in four months as lockdowns to prevent the spread of the coronavirus outbreak were further relaxed. However, the reading still pointed to a marked contraction in the services sector. Output, new orders, order book backlogs and employment fell at a slower pace. On the price front, input prices rose for the first time since February, mainly due to wages while output prices continued to decline due to discounts. Finally, business sentiment also increased.
2020-06-23
Eurozone Services PMI Revised Higher
The IHS Markit Eurozone Services PMI was revised higher to 30.5 in May 2020 from a preliminary estimate of 28.7 and compared to April's record low of 12. Still, the latest reading continued to point to a severe contraction in the bloc's service sector as the restrictions related to the COVID-19 pandemic restricted economic activity. The level of new work and employment fell sharply again and outstanding business contracted for the third successive month and at a considerable pace. On the price front, input costs and output charges remained in deflationary territory. Finally, business confidence moderated further since March’s survey record.
2020-06-03
Eurozone Services Activity Contracts at Softer Pace
The IHS Markit Eurozone Services PMI increased to 28.7 in May 2020 from 12 in the previous month and above market forecasts of 25, a preliminary estimate showed. Still, the reading pointed to the third steepest contraction in the services sector since comparable series began in June 1997, as social distancing and other coronavirus-related lockdown restrictions continued to hit businesses such as hotels, restaurants, travel and tourism and other consumer-facing firms. The job shedding rate eased slightly, as firms cut capacity due to lower demand and new orders dropped at a softer pace. On the price front, input prices dropped at a slower rate. Lastly, sentiment remained weak and below anything recorded before the outbreak.
2020-05-21

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.