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.

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Euro Area Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
49.60 45.70 58.30 12.00 2007 - 2021 points Monthly


News Stream
Eurozone Services Activity Shrinks Less in March
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.
2021-04-07
Eurozone Services PMI Highest in 7 Months
The IHS Markit Eurozone Services PMI rose to 48.8 in March of 2021 from 45.7 in the previous month and above market expectations of 46, a preliminary estimate showed. The service sector continued to be constrained by the coronavirus disease pandemic, with social distancing restrictions leading to a seventh successive monthly fall in business activity. The rate of contraction in the service sector nevertheless moderated to the slowest seen over this period, thanks to spill-over benefits from strong manufacturing growth, a modest easing of virus containment measures and encouraging prospects for the year ahead.
2021-03-24
Eurozone Services PMI Revised Higher, Still Points to Contraction
The IHS Markit Eurozone Services PMI was revised higher to 45.7 in February 2021, up from a preliminary estimate of 44.7 and compared with 45.4 in the previous month. Still, the latest reading indicated a sixth consecutive monthly contraction of services sector activity, as virus-related restrictions continued to affect many businesses. Incoming new work fell for a seventh month in a row, due also to a decline in export sales, while employment increased for the first time in a year, although at a modest pace. On the price front, input cost inflation was unchanged on January's five-month high, while output charges were cut for a 12th successive month. Finally, business expectations improved to their highest level since April 2018.
2021-03-03
Eurozone Services Activity Shrinks for 6th Month
The IHS Markit Eurozone Services PMI dropped to 44.7 in February 2021, down from 45.4 in the previous month and below market expectations of 45.9, a preliminary estimate showed. The latest reading indicated a sixth consecutive monthly contraction of services sector activity, as virus-related restrictions continued to affect many businesses. Inflows of new business contracted sharply and employment was slightly down, while outstanding business contracted for a twelfth month in a row. Meanwhile, input cost inflation remained relatively muted and output charges were little-changed. Finally, business expectations grew more optimistic in February.
2021-02-19

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.