The IHS Markit Eurozone Services PMI rose to 50.3 in April 2021, from 49.6 in the previous month and above market expectations of 49.1, a preliminary estimate showed. The latest reading signaled the first expansion of activity since last August, albeit growing only very modestly. Service activity in Germany stalled, but both France and the rest of the bloc saw marginal expansions for the first time since last summer as companies prepared for better times ahead. Overall new orders for services fell for a ninth successive month and the rate of job creation was modest, while outstanding business increased for the first time since the pandemic began. On the prince front, service sector input cost inflation picked up to a two-year high, while prices charged for services rose only modestly. 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.