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.

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Germany Services PMI



Related Last Previous Unit Reference
Services PMI 50.90 50.70 points Feb 2023
Manufacturing PMI 46.30 47.30 points Feb 2023
Composite PMI 50.70 49.90 points Feb 2023

Germany Services PMI
The Germany Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 500 companies based in the German service sector. 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.
Actual Previous Highest Lowest Dates Unit Frequency
50.90 50.70 61.80 16.20 2007 - 2023 points Monthly

News Stream
German Services PMI Revised Lower
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 end 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.
2023-03-03
German Services Activity Growth Hits 8-Month High
The S&P Global Germany Services PMI rose to 51.3 in February 2023, up from 50.7 in the previous month and slightly beating market expectations of 51.0, a preliminary estimate showed. The latest reading pointed to the fastest pace of expansion in the services sector since last June, due to an improvement in underlying demand. Inflows of new orders rose, ending an eight-month sequence of decline, while employment continued to rise. On the price front, service sector input prices continued to rise sharply, and even at a slightly quicker rate than in January, driven in large part by higher wages. On the other hand, charges set by services firms rose at a slower pace.
2023-02-21
Germany Services PMI Revised Higher
The S&P Global Germany Services PMI was revised higher to 50.7 in January of 2023 from a preliminary of 50.4, pointing to the first expansion in the services sector in seven months. Higher business activity was in some cases linked to catch-up effects, with firms making further inroads into their backlogs of work during the month. Underlying demand meanwhile remained fragile. Inflows of new business fell in January, extending the decline that began in June but the rate of contraction was the slowest for seven months. Also, job growth accelerated while growing wage demands and elevated energy prices contributed to an ongoing sharp rise in businesses' operating costs. Finally, firms became increasingly optimistic towards the year-ahead outlook for activity, with expectations hitting the highest since February 2022.
2023-02-03