The S&P Global Eurozone Services PMI came in at 48.5 in November 2022, little-changed from 48.6 recorded in both the preliminary estimate and October's final reading. The figure signaled a fourth straight month of falling output levels across the service sector, at a rate that was the fastest since February 2021. Incoming new business contracted for a fifth month running, with the pace of decline unchanged from October’s 20-month record. Meanwhile, the rate of job creation was the weakest in just over a year-and-a-half, while the level of work pending completion dropped for the second time in the past three months. On the price front, input costs and output charges both increased sharply, although rates of inflation were at their weakest in three months in both instances. Looking ahead, business confidence picked up, but remained subdued. source: Markit Economics
Services PMI in Euro Area averaged 51.55 points from 2007 until 2022, reaching an all time high of 59.80 points in July of 2021 and a record low of 12.00 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 December of 2022.
Services PMI in Euro Area is expected to be 48.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Services PMI is projected to trend around 52.30 points in 2023 and 54.00 points in 2024, according to our econometric models.