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

Macro

2026-06-03

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 data indicates that the Eurozone's Services PMI for April 2026 further declined to 48.5, continuing to drop from the previous reading of 48.8 and remaining below the 50-point expansion-contraction threshold for two consecutive months. Surging energy prices triggered by geopolitical tensions are severely eroding consumer demand while simultaneously causing corporate input costs to escalate rapidly. Facing the dual pressures of resurgent inflation and an economic slowdown, the European Central Bank will face a difficult dilemma regarding its future monetary policy.

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AI Data Insight

The latest data indicates that the Eurozone's Services PMI for April 2026 further declined to 48.5, continuing to drop from the previous reading of 48.8 and remaining below the 50-point expansion-contraction threshold for two consecutive months. Surging energy prices triggered by geopolitical tensions are severely eroding consumer demand while simultaneously causing corporate input costs to escalate rapidly. Facing the dual pressures of resurgent inflation and an economic slowdown, the European Central Bank will face a difficult dilemma regarding its future monetary policy.

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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