Euro Area: Non-Manufacturing PMI (NMI) - Final

Macro

2026-05-06

Description

The Eurozone Non-Manufacturing Purchasing Managers' Index (NMI) is compiled by IHS Markit based on monthly surveys of purchasing managers from approximately 2,000 service sector companies in Germany, France, Italy, Spain, and Ireland. An NMI reading above 50 indicates expansion in the service sector, while a reading below 50 indicates contraction. This index is crucial for assessing the overall health of the Eurozone economy and forecasting future economic activity, influencing ECB monetary policy, as well as business and investment strategies.

The index is typically released on the first working day of each month.

Note: Unlike the PMI, which is composed of five sub-indices, the NMI is represented by the Services Business Activity Index.

Published by
Chartered Institute of Purchasing and Supply (Choice)
Frequency
Monthly
Next Update
Hashtags
Service PMI Euro Area

AI Data Insight

The latest Eurozone services PMI for Q2 2026 dropped to 48.8, a significant retreat from the previous reading of 50.7, falling below the boom-bust line. Dragged down by the Middle East conflict and soaring energy costs, new orders and export demand contracted sharply, while the labor market also stagnated. Institutions warn that under the dual pressure of sticky inflation and weak growth, the European Central Bank faces a severe policy test.

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AI Data Insight

The latest Eurozone services PMI for Q2 2026 dropped to 48.8, a significant retreat from the previous reading of 50.7, falling below the boom-bust line. Dragged down by the Middle East conflict and soaring energy costs, new orders and export demand contracted sharply, while the labor market also stagnated. Institutions warn that under the dual pressure of sticky inflation and weak growth, the European Central Bank faces a severe policy test.

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Description

The Eurozone Non-Manufacturing Purchasing Managers' Index (NMI) is compiled by IHS Markit based on monthly surveys of purchasing managers from approximately 2,000 service sector companies in Germany, France, Italy, Spain, and Ireland. An NMI reading above 50 indicates expansion in the service sector, while a reading below 50 indicates contraction. This index is crucial for assessing the overall health of the Eurozone economy and forecasting future economic activity, influencing ECB monetary policy, as well as business and investment strategies.

The index is typically released on the first working day of each month.

Note: Unlike the PMI, which is composed of five sub-indices, the NMI is represented by the Services Business Activity Index.

Published by
Chartered Institute of Purchasing and Supply (Choice)
Frequency
Monthly
Next Update
Hashtags
Service PMI Euro Area