Zona Euro Services Sentiment

The Euro Area services confidence indicator declined for the fourth consecutive month, slipping to 1.5 in May 2025, its lowest level since April 2021, from an upwardly revised 1.6 in April. Despite the drop, the reading came in above market expectations of 0.9. Managers’ assessment of the past business situation showed some improvement (–2.2 vs –4.2), but this was offset by a weaker evaluation of past demand (1.4 vs 2.7). Additionally, expectations for future demand softened (5.3 vs 6.3), and employment expectations also edged lower (0.2 vs 0.5).