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Euro Area Services PMI

Last Release
Apr 30, 2024
Actual
53.3
Units In
Points
Previous
51.5
Frequency
Monthly
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
59.8
Jul 2021
12
Apr 2020
51.51 Points2007-2024Markit 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 increased to 53.3 in April, marking the strongest growth in nearly a year, surpassing the initial estimate of 52.9 and up from 51.5 in March. Increased demand was a primary factor in the higher output, with new business volumes expanding at the fastest rate since May of the previous year. This surge in sales resulted in an uptick in backlogs of work for the first time in ten months, however, the accumulation was only marginal. With rising new business and capacity constraints, employment grew at an accelerated pace, reaching levels not seen since mid-2023. Although business confidence dipped slightly from its recent peak, it remained strong overall and aligned with historical averages. Price pressures in the eurozone services sector increased mildly, with input costs rising slightly from an eight-month low in March. Output charges also saw a modest uptick.

Euro Area Services PMI History

Last 12 readings

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