Preliminary estimates of European business activity indices noted an overall acceleration in the Eurozone economy better than expected, helping the Euro find temporary support as it approaches 1.08.
Germany’s service sector is strengthening its expansion, as reflected in the rise in the corresponding PMI to 53.9, the highest since last June. This is a territory of healthy growth and where the index was from 2013 to 2019. For the eurozone, the positive trend in PMIs is also unambiguous. All three indices reached multi-month highs and came out stronger than expected. As in Germany, the dynamics of the services sector are close to what we have seen during 2014-2019, relatively quiet years for the euro area.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: