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 51.9 in July of 2024 from 52.8 in the previous month, firmly below market expectations of 53 to mark the slowest pace of expansion in the Eurozone services activity since March, according to a flash estimate. Still, it was the sixth consecutive period of growth in the sector, aided by another upturn in new orders and a fresh depletion of backlogs. The higher level of new contracts sustained demand for capacity, driving firms to continue increasing their headcounts, albeit at the slowest pace since January. On the price front, input price inflation continued to rise. Looking forward, surveyors reported a dip in business sentiment over the next year.