Zona Euro PMI Servicios

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.