The IHS Markit Eurozone Services PMI was revised higher to 49.6 in March 2021, from a preliminary estimate of 48.8, signaling a marginal rate of contraction that was the slowest in the current sequence. Incoming new business fell for an eighth consecutive period, with foreign sales declining for a 31st successive month, while employment growth was modest overall. On the price front, operating expenses increased the most since February 2020 and output charges advanced for the first time in over a year. Looking ahead, business confidence reached the highest for over three years. source: Markit Economics
Services PMI in the Euro Area averaged 51.26 points from 2007 until 2021, 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 April of 2021.
Services PMI in Euro Area is expected to be 53.60 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 54.00 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 55.00 points in 2022 and 54.00 points in 2023, according to our econometric models.