The IHS Markit Eurozone Services PMI was revised lower to 46.4 in December 2020, down from a preliminary estimate of 47.3 and compared with November's six-month low of 41.7. Output contracted for a fourth straight month, although at a softer pace, with all nations except Ireland registering a decline in activity. Italy recorded by far the sharpest reduction, followed by Germany and then Spain. New orders dropped for a fifth month in a row, with exports falling once again sharply due to ongoing strict travel and tourism restrictions; while employment continued to contract. Meanwhile, price pressures intensified, though remained relatively benign when compared to the survey’s historical average. Output charges were cut for a tenth consecutive month. Looking ahead, sentiment among service providers about future prospects hit a two-and-a-half year high in December. source: Markit Economics

Services PMI in the Euro Area averaged 51.34 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 January of 2021.

Services PMI in Euro Area is expected to be 50.00 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 51.00 in 12 months time. In the long-term, the Euro Area Services PMI is projected to trend around 51.00 points in 2022 and 54.00 points in 2023, according to our econometric models.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
46.40 41.70 58.30 12.00 2007 - 2020 points Monthly


News Stream
Eurozone Business Activity Falls More than Expected
The IHS Markit Eurozone Services PMI was revised lower to 46.4 in December 2020, down from a preliminary estimate of 47.3 and compared with November's six-month low of 41.7. Output contracted for a fourth straight month, although at a softer pace, with all nations except Ireland registering a decline in activity. Italy recorded by far the sharpest reduction, followed by Germany and then Spain. New orders dropped for a fifth month in a row, with exports falling once again sharply due to ongoing strict travel and tourism restrictions; while employment continued to contract. Meanwhile, price pressures intensified, though remained relatively benign when compared to the survey’s historical average. Output charges were cut for a tenth consecutive month. Looking ahead, sentiment among service providers about future prospects hit a two-and-a-half year high in December.
2021-01-06
Eurozone Services Activity Shrinks Less than Forecast
The IHS Markit Eurozone Services PMI rose to 47.3 in December 2020 from 41.7 in the previous month, and easily beating market expectations of 41.9, a preliminary estimate showed. Output contracted for a fourth straight month, although at a softer pace, with fewer companies reporting output to have been hit by coronavirus lockdown restrictions compared to November. The rate of decline in new orders softened, with exports falling once again sharply due to ongoing strict travel and tourism restrictions; while employment continued to contract. Looking ahead, sentiment among service providers about future prospects hit a 27-month high in December.
2020-12-16
Eurozone Services PMI Lowest in 6 Months
The IHS Markit Eurozone Services PMI was revised higher to 41.7 in November 2020, from a preliminary estimate of 41.3 and compared with October's final 46.9. Still, the latest reading signaled the sharpest contraction in services activity since May amid renewed efforts to curb the spread of the coronavirus pandemic. New business placed at service providers collapsed to an extent not seen since May, with new export business again declining to a considerable degree. At the same time, employment continued to fall and outstanding business contracted sharply. On the price front, input costs rose modestly, while output charge deflation deepened as service providers respond to the challenging business environment by offering discounts. Looking ahead, service providers grew more optimistic about the year ahead.
2020-12-03
Eurozone Service Sector Contraction Deepens
The IHS Markit Eurozone Services PMI dropped to a six-month low of 41.3 in November 2020, from 46.9 in the previous month and below market expectations of 42.5, a preliminary estimate showed. The latest reading pointed to an acceleration in service activity decline, amid renewed efforts to curb the spread of the coronavirus pandemic. New business placed at service providers collapsed to an extent not seen since May, with hospitality, travel and consumer-facing companies reporting especially weak demand. At the same time, employment fell at a faster pace and outstanding business contracted sharply. On the price front, input costs rose the least in six months, while output charge deflation deepened. Looking ahead, service providers grew more optimistic about the year ahead, commonly attributed to encouraging news of vaccine developments in recent weeks.
2020-11-23

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.