FX.co ★ Eurozone Services Activity Ticks Higher but Remains in Contraction in April

The HCOB Eurozone Services PMI inched up in April, signaling a modest improvement in the bloc’s services sector while still pointing to overall contraction. The index rose to 47.6 in April 2026, slightly above the previous reading of 47.4, according to data updated on 06 May 2026.

Despite the uptick, the PMI remains below the 50-point threshold that separates expansion from contraction, indicating that service providers across the euro area are still facing headwinds. The marginal rise suggests conditions may be stabilizing, but not yet strong enough to mark a clear turning point for the sector.

Investors and policymakers will be watching upcoming data closely to assess whether April’s improvement is the start of a gradual recovery or simply a pause in a weaker trend for eurozone services.