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 fell to 49.2 in November 2024, compared to October’s reading and market expectations of sustained expansion at 51.6. The latest reading indicates renewed contraction in the services sector, ending a nine-month streak of growth, with business activity declining for the first time since January. At the same time, both new orders and order backlogs fell at a faster pace than in October. In terms of prices, input costs surged sharply, largely due to a significant rise in wages. As a result, inflation in selling prices remained elevated. On a positive note, services employment continued to increase, with the latest rise marking the fastest pace in four months.