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. source: S&P Global
Services PMI In the Euro Area increased to 53.30 points in April from 51.50 points in March of 2024. Services PMI in Euro Area averaged 51.51 points from 2007 until 2024, reaching an all time high of 59.80 points in July of 2021 and a record low of 12.00 points in April of 2020. This page provides the latest reported value for - Euro Area Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on May of 2024.
Services PMI In the Euro Area increased to 53.30 points in April from 51.50 points in March of 2024. Services PMI in Euro Area is expected to be 52.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Services PMI is projected to trend around 52.90 points in 2025, according to our econometric models.