Euro Area Services PMI

Last Release

Nov 30, 2023

Actual

48.7

Units In

Points

47.8

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.8 Jul 2021	12 Apr 2020	51.53 Points	2007-2023	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 was revised higher to 48.7 in November 2023 from a preliminary of 48.2, compared to 47.8 in October. The reading continued to point to a continuation of the service sector’s decline in activity that has been ongoing since August. New business continued to decline although at the slowest pace for three months. Meanwhile, the drag on activity from falling new business was once again partially alleviated by backlogs of work, which fell further. Inflation remained persistent across the eurozone services economy, with rates of increase in both input costs and output prices edging higher on the month. Lastly, business confidence resumed the downward trend seen throughout most of 2023 so far. Firms’ growth expectations for the year ahead were weak by historical standards.