Euro Area Services PMI

Last Release

Mar 31, 2024

Actual

51.5

Units In

Points

50.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.8 Jul 2021	12 Apr 2020	51.5 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 rose to 51.5 in March of 2024 from 50.2 in the previous month, revised higher from the preliminary estimate of 51.1 to extend February’s slight rebound with greater traction following six consecutive months of declines in the sector. Sales for service providers expanded for the first time in nine months, with surveyees noting that the improvement in new orders was confined to domestic markets instead of export markets. The higher demand for capacity drove firms to increase their headcounts for the eighth consecutive month, at a slower pace than that observed in February, but ahead of the long-term average. On the price front, input cost inflation slowed to an eight-month low, while output charges eased to the softest since November. Looking ahead, business activity outlooks improved for a fourth consecutive month.