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Services Sentiment

Services sentiment indicator, released by European Comission, measures business sentiment in the services sector. The figure is derived from a survey asking firms in the service sector about current and expected demand. Since the service sector accounts for roughly two thirds of total Euro-zone GDP, Services Confidence provides an important confirmation of the health for the overall economy. High levels of Services Confidence suggest future upward trends for production and employment. The figure is determined by the difference between positive and negative answers. Therefore a headline above zero indicates positive service sector confidence, while a negative number shows negative confidence.

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Next event - Thursday 28 November 2024 10:00

7.1

Forecast

6.2

Actual

The typical/expected market impact of this event is low.

The consensus forecast for Services Sentiment is 6.2. A higher value than forecast tends to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Most recent - Wednesday 30 October 2024 10:00

6.7

Revised

7.1

Forecast

6.5

Actual

7.1

Higher numbers than forecast tend to be bullish for EUR/xxx pairs and bearish for xxx/EUR pairs.

Trading range

Forecast history

The most recent announced value for Services Sentiment was 7.1 against a forecast of 6.5.

Past events

Date

Forecast

Actual

Wednesday 30 October 2024 10:00

6.5

7.1

Friday 27 September 2024 09:00

5.6

6.7

Thursday 29 August 2024 09:00

5.2

6.3

Tuesday 30 July 2024 09:00

6.4

4.8

Thursday 27 June 2024 09:00

6.4

6.5

Thursday 30 May 2024 09:00

6.5

Monday 29 April 2024 09:00

6.5

Wednesday 27 March 2024 10:00

7.8

6.3

Wednesday 28 February 2024 10:00

Tuesday 30 January 2024 10:00

8.8

Monday 8 January 2024 10:00

8.4

Wednesday 29 November 2023 10:00

4.3

4.9

Monday 30 October 2023 10:00

3.4

4.5

Thursday 28 September 2023 09:00

3.5

Wednesday 30 August 2023 08:00

4.2

3.9

Friday 28 July 2023 09:00

5.4

5.7

Thursday 29 June 2023 09:00

5.5

5.7

Tuesday 30 May 2023 09:00

10.2

Thursday 27 April 2023 09:00

9.4

10.5

Thursday 30 March 2023 09:00

10.3

9.4

Monday 27 February 2023 10:00

12.4

9.5

Monday 30 January 2023 10:00

7.9

10.7

Friday 6 January 2023 10:00

3.5

6.3

Tuesday 29 November 2022 10:00

2.3

Friday 28 October 2022 09:00

3.3

1.8

Thursday 29 September 2022 09:00

4.9

Tuesday 30 August 2022 09:00

8.7

Thursday 28 July 2022 09:00

14.5

10.7

Wednesday 29 June 2022 09:00

12.5

14.8

Monday 30 May 2022 09:00

14.3

Monday 2 May 2022 09:00

14.2

13.5

Wednesday 30 March 2022 09:00

14.4

Friday 25 February 2022 10:00

10.3

Friday 28 January 2022 10:00

14.9

9.1

Friday 7 January 2022 10:00

11.2

Monday 29 November 2021 10:00

16.3

18.4

Economic context

Recent economic data has been moderately bearish for EUR. Other recent announcements which may affect the market's interpretation of the next Services Sentiment result:

		Previous	Latest
Harmonized Index of Consumer Prices (YoY)	Bullish change	1.8%	2.4%
GfK Consumer Confidence Survey	Bearish change	-18.4	-23.3
IFO – Business Climate	Bearish change	86.5	85.7
IFO – Current Assessment	Bearish change	85.7	84.3
IFO – Expectations	Bearish change	87.3	87.2
HCOB Manufacturing PMI	Bearish change	46	45.2
HCOB Composite PMI	Bearish change	50	48.1
HCOB Services PMI	Bearish change	51.6	49.2
HCOB Composite PMI	Bearish change	48.6	47.3
HCOB Manufacturing PMI	Bullish change	43	43.2
HCOB Services PMI	Bearish change	51.6	49.4
HCOB Composite PMI	Bearish change	48.1	44.8
HCOB Manufacturing PMI	Bearish change	44.5	43.2
HCOB Services PMI	Bearish change	49.2	45.7
Gross Domestic Product (QoQ)	Bearish change	0.2%	0.1%
Gross Domestic Product (YoY)	Bearish change	-0.2%	-0.3%
Gross Domestic Product w.d.a (YoY)	Bearish change	0.2%	0.1%
Consumer Confidence	Bullish change	-12.5	-12.4
Producer Price Index (MoM)	Bullish change	-0.5%	0.2%
Producer Price Index (YoY)	Bullish change	-1.4%	-1.1%
Core Harmonized Index of Consumer Prices (MoM)	(no change)	0.2%	0.2%
Core Harmonized Index of Consumer Prices (YoY)	(no change)	2.7%	2.7%
Harmonized Index of Consumer Prices (MoM)	(no change)	0.3%	0.3%
Consumer Price Index (EU Norm) (YoY)	(no change)	1%	1%
Consumer Price Index (YoY)	(no change)	0.9%	0.9%
Consumer Price Index (EU norm) (YoY)	Bullish change	1.5%	1.6%
Industrial Production s.a. (MoM)	Bearish change	1.5%	-2%
Employment Change (QoQ)	(no change)	0.2%	0.2%
Gross Domestic Product s.a. (QoQ)	(no change)	0.4%	0.4%
Gross Domestic Product s.a. (YoY)	(no change)	0.9%	0.9%

About Services Sentiment

Country:	Eurozone
Currency:	EUR
Source:	European Commission
Category:	Economic Activity
Frequency:	Monthly

Related events

	Australia		Gross Domestic Product (QoQ)
	Canada		Gross Domestic Product Annualized
	Switzerland		Gross Domestic Product s.a. (QoQ)
	China		Non-Manufacturing PMI
	China		Gross Domestic Product (YoY)
	China		Gross Domestic Product (QoQ)
	China		Industrial Production (YoY)
	China		Caixin Services PMI
	China		NBS Manufacturing PMI
	China		Caixin Manufacturing PMI
	Eurozone		Gross Domestic Product s.a. (YoY)
	Eurozone		Gross Domestic Product s.a. (QoQ)
	Japan		Gross Domestic Product (QoQ)
	Japan		Tankan Large Manufacturing Index
	New Zealand		Gross Domestic Product (YoY)
	New Zealand		Gross Domestic Product (QoQ)
	United Kingdom		Gross Domestic Product (YoY)
	United Kingdom		Gross Domestic Product (QoQ)
	United States		ISM Manufacturing PMI
	United States		Gross Domestic Product Annualized
	United States		ISM Services PMI
	Australia		Private Capital Expenditure
	Australia		National Australia Bank's Business Confidence (QoQ)
	Australia		S&P Global Services PMI
	Australia		S&P Global Composite PMI
	Australia		AiG Industry Index
	Australia		Gross Domestic Product (YoY)
	Canada		Bank of Canada Business Outlook Survey
	Canada		Gross Domestic Product (MoM)
	Canada		Ivey Purchasing Managers Index
	Canada		Ivey Purchasing Managers Index s.a
	Canada		Gross Domestic Product (QoQ)
	Canada		S&P Global Manufacturing PMI
	Switzerland		Industrial Production (YoY)
	Switzerland		Gross Domestic Product (YoY)
	Switzerland		ZEW Survey – Expectations
	Germany		ZEW Survey – Economic Sentiment
	Germany		IFO – Current Assessment
	Germany		Factory Orders n.s.a. (YoY)
	Germany		S&P Global/BME Manufacturing PMI
	Germany		Gross Domestic Product (QoQ)
	Germany		IFO – Expectations
	Germany		S&P Global/BME Composite PMI
	Germany		ZEW Survey – Current Situation
	Germany		IFO – Business Climate
	Germany		Industrial Production n.s.a. w.d.a. (YoY)
	Germany		S&P Global/BME Services PMI
	Germany		Gross Domestic Product w.d.a (YoY)
	Germany		Gross Domestic Product (YoY)
	Germany		Factory Orders s.a. (MoM)
	Germany		Industrial Production s.a. (MoM)
	Eurozone		Sentix Investor Confidence
	Eurozone		ZEW Survey – Economic Sentiment
	Eurozone		S&P Global Composite PMI
	Eurozone		Economic Sentiment Indicator
	Eurozone		Industrial Production s.a. (MoM)
	Eurozone		Business Climate
	Spain		S&P Global Services PMI
	Spain		Gross Domestic Product - Estimated (QoQ)
	Spain		S&P Global Manufacturing PMI
	Spain		Gross Domestic Product (QoQ)
	India		HSBC Services PMI
	India		Gross Domestic Product Quarterly (YoY)
	India		HSBC Manufacturing PMI
	India		HSBC Composite PMI
	Italy		Gross Domestic Product (YoY)
	Italy		S&P Global Manufacturing PMI
	Italy		Gross Domestic Product (QoQ)
	Italy		S&P Global Services PMI
	Japan		Tankan Large All Industry Capex
	Japan		Tankan Large Manufacturing Outlook
	Japan		Gross Domestic Product Annualized
	Japan		Gross Domestic Product Deflator (YoY)
	South Korea		Gross Domestic Product Growth (QoQ)
	New Zealand		Business NZ PMI
	New Zealand		Business NZ PSI
	New Zealand		NZIER Business Confidence (QoQ)
	Poland		Purchasing Manager Index
	United Kingdom		Manufacturing Production (MoM)
	United Kingdom		Manufacturing Production (YoY)
	United Kingdom		Gross Domestic Product (MoM)
	United Kingdom		Industrial Production (MoM)
	United States		Durable Goods Orders ex Defense
	United States		Industrial Production (MoM)
	United States		Factory Orders (MoM)
	United States		Nondefense Capital Goods Orders ex Aircraft
	United States		ISM Services New Orders Index
	United States		ISM Manufacturing New Orders Index
	United States		Philadelphia Fed Manufacturing Survey
	United States		S&P Global Composite PMI
	United States		NY Empire State Manufacturing Index
	United States		Chicago Purchasing Managers' Index
	United States		Durable Goods Orders ex Transportation
	United States		Gross Domestic Product Price Index
	United States		Durable Goods Orders

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Services Sentiment

Next event - Thursday 28 November 2024 10:00

Most recent - Wednesday 30 October 2024 10:00

Trading range

Trading range after each Services Sentiment event

Forecast history

Past events

Economic context

About Services Sentiment

Related events