Euro Area Services PMI

Last Release

Jul 31, 2024

Actual

51.9

Units In

Points

52.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.8 Jul 2021	12 Apr 2020	51.52 Points	2007-2024	Markit Economics

The Eurozone Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of around 2,000 private service sector firms. National services data are included for Germany, France, Italy, Spain and the Republic of Ireland. 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.

Latest Updates

The HCOB Eurozone Services PMI edged higher to 51.6 in October of 2024 from 51.4 in the previous month, revised higher from the flash estimate that it would have fallen to 51.2 and slightly ahead of the initial market expectations of 51.5. Still, new contracts for service providers fell for a second consecutive month, particularly with clients from outside each Eurozone member’s country with export orders falling the most in ten months. Still, the depletion of outstanding work prevented a sharper drop in output. Nonetheless, employment levels continued to rise, although the rate of job creation was the lowest since February 2021. On the price front, inflation rose for both input costs and output charges. Looking forward, respondents continued to show confidence in activity levels in the upcoming 12 months.