The S&P Global Germany Services PMI was revised slightly higher to 49.7 in July of 2022 from a preliminary of 49.2, but still pointed to the first contraction in the services sector since December, amid a combination of waning client confidence and a squeeze on both household and company finances. New business fell for a second month but the labour market continued to show resilience as firms looked to expand capacity. At the same time, both input and output price inflation retreated further but remained elevated. Finally, business expectations turned negative for the first time since the first wave of covid-19 in 2020, due to concerns about high inflation and rising interest rates and prospect of a gas shortage. source: Markit Economics
Services PMI in Germany averaged 52.82 points from 2007 until 2022, reaching an all time high of 61.80 points in July of 2021 and a record low of 16.20 points in April of 2020. This page provides the latest reported value for - Germany Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Services PMI in Germany is expected to be 49.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Services PMI is projected to trend around 55.10 points in 2023 and 54.50 points in 2024, according to our econometric models.