Euro zone services activity slumps in April on weak demand, PMI shows
Published on May 6, 2026.
S&P Global's Eurozone Services Purchasing ‘Managers' Index dropped to a 62-month low of 47.6 in April from 50.2 in March, just above a preliminary estimate of 48.4. Demand in the bloc's dominant services industry weakened further, with new export business also deteriorating. The overall composite PMI, which tracks manufacturing as well, also dropped to 48.8 from 49.7, marking a 17-month lows. Among major economies, Germany, France, and Spain all recorded contractions in private sector activity. The employment in the service sector remained unchanged in April, a departure from a stronger hiring trend seen for five years. The ongoing Middle East conflict has contributed to this decline.
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Euro zone services activity slumps in April on weak demand, PMI shows
Euro zone services activity slumped in April due to weak demand, rising prices, and the ongoing war in the Middle East, impacting overall business confidence.