Data on business activity in the services sector in Europe
- Index of business activity in the services sector of Germany (Jan), fact 53.0, forecast 53.1.
- Eurozone Composite Index of Business Activity (PMI) from Eurozone (Jan), fact 51.0, forecast 50.7.
- Index of business activity in the services sector of the eurozone (Jan), fact 51.2, the forecast 50.8.
- Index of business activity in the services sector in the UK (Jan), a fact 50.1, forecast 51.1.
The report on business activity in the services sector in Europe turned out to be ambiguous and more negative. The exception was the average for the eurozone, which rose in January, but remains in a downtrend. More significant slowdown was shown by the UK data, which updated the two-year low.
Fig. 1. Graph of the index of business activity in the UK services sector
The actual business slowdown in the UK services sector continues to accelerate, pointing to the increasing risks associated with Brexit. This actually resumed the pressure on the British pound after a small increase. EUR/GBP on this report returned to an uptrend, indicating the resumption of growth.
Fig. 2. EUR/GBP chart. Current price – 0.8770
Read also: “Cross-rates signals: EUR/GBP keeps upward dynamics”
Hanzenko Anton
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