The S&P Global Germany Services PMI was revised lower to 50.9 in February of 2023 from a preliminary reading of 51.3, but remained above the 50.7 in the previous month to consolidate the rebound for the German services sector after six consecutive contractions to the end of 2022. It was the fastest expansion since June 2022, as inflows of new work rose from the previous period for the first time in eight months. The amount of outstanding business also increased, leading firms to take on additional staff during the period, albeit at the slowest pace in nearly two-and-a-half years. On the price front, input inflation slowed marginally but remained sharp, although output charges eased for a fifth straight month. Looking ahead, business confidence strengthened for German service providers, largely due to eased fears of higher energy prices. source: Markit Economics
Services PMI in Germany averaged 52.64 points from 2007 until 2023, 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 March of 2023.
Services PMI in Germany is expected to be 50.50 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 54.50 points in 2024 and 53.60 points in 2025, according to our econometric models.