FX.co ★ Euro Area Services PMI Revised Lower

The S&P Global Eurozone Services PMI was revised down to 51.4 in October 2026 from a preliminary estimate of 51.7 and compared with 53.0 in September, indicating a loss of momentum in the services sector at the start of the fourth quarter. New business intakes edged lower, marking a clear break from the solid gains recorded in each month of the third quarter. To sustain activity, firms increasingly worked through existing backlogs, with outstanding orders falling for the eleventh time in the past twelve months.

October data also pointed to a renewed decline in services employment, the first decrease since May. Meanwhile, price pressures in the sector eased slightly, as inflation rates for both output charges and input costs softened for the first time since July.