The HCOB Eurozone Services PMI reached 52.9 in April 2024, marking an eleven-month high compared to March's 51.5, according to flash estimates. New orders saw their fastest growth since May last year, increasing for the second consecutive month, while the rate of employment growth hit a ten-month high. Despite a slight uptick, service sector cost inflation remained below early-year highs, driven by higher wage rates, energy, and fuel costs. Service providers raised prices at an accelerated pace. However, business expectations for the next 12 months indicated a decline in service sector confidence to a three-month low. source: S&P Global

Services PMI In the Euro Area increased to 52.90 points in April from 51.50 points in March of 2024. Services PMI in Euro Area averaged 51.50 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 April of 2024.

Services PMI In the Euro Area increased to 52.90 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.



Related Last Previous Unit Reference
Bankruptcies 2.70 -10.90 percent Dec 2023
Business Confidence -0.30 -0.41 points Mar 2024
Capacity Utilization 79.20 79.60 percent Mar 2024
Car Registrations 778668.23 771857.27 Units Feb 2024
Changes in Inventories 36.23 7.28 EUR Billion Dec 2023
HCOB Composite PMI 51.40 50.30 points Apr 2024
Industrial Production YoY -6.40 -6.60 percent Feb 2024
Industrial Production MoM 0.80 -3.00 percent Feb 2024
Industrial Sentiment -8.80 -9.40 points Mar 2024
HCOB Manufacturing PMI 45.60 46.10 points Apr 2024
Manufacturing Production -6.50 -7.50 percent Feb 2024
Mining Production -7.40 -11.20 percent Feb 2024
HCOB Services PMI 52.90 51.50 points Apr 2024
Services Sentiment 6.30 6.00 points Mar 2024
ZEW Economic Sentiment Index 43.90 33.50 points Apr 2024

Euro Area Services PMI
The HCOB Eurozone Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of service providers in Germany, France, Italy, Spain and Ireland. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. The headline figure is the Services Business Activity Index. This is a diffusion index calculated from a question that asks for changes in the volume of business activity compared with one month previously. The Services Business Activity Index is comparable to the Manufacturing Output Index. The index varies between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
52.90 51.50 59.80 12.00 2007 - 2024 points Monthly
SA

News Stream
Euro Area Services PMI Highest in 11 Months
The HCOB Eurozone Services PMI reached 52.9 in April 2024, marking an eleven-month high compared to March's 51.5, according to flash estimates. New orders saw their fastest growth since May last year, increasing for the second consecutive month, while the rate of employment growth hit a ten-month high. Despite a slight uptick, service sector cost inflation remained below early-year highs, driven by higher wage rates, energy, and fuel costs. Service providers raised prices at an accelerated pace. However, business expectations for the next 12 months indicated a decline in service sector confidence to a three-month low.
2024-04-23
Euro Area Service Activity Accelerates in March
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.
2024-04-04
Euro Area Services Activity Expands for 2nd Month
The HCOB Eurozone Services PMI rose to 51.1 in March 2024 from 50.2 in the previous month, firmly above market expectations of 50.5 to mark the sharpest growth since June of 2023. It marked the second consecutive month of expansion in the Eurozone’s services activity following six straight months of declines, furthering hopes that the bloc’s services economy will gain some traction despite the prolonged period of restrictive interest rates. Firms recorded an increase in new business for the first time in nine months, albeit at a soft pace. Still, companies increased their headcounts at a softer pace. On the price front, input costs slowed to rise at the softest pace in eight months, driving selling price inflation to moderate as well.
2024-03-21