Data on business activity in the services sector in Europe
- Business Activity Index (PMI) in the Italian services sector (May), fact 50.0, forecast 49.7.
- Business Activity Index (PMI) in the French services sector (May), fact 51.5, forecast 51.7.
- Business Activity Index in the services sector of Germany (May), fact 55.4, forecast 55.0.
- Eurozone Composite Business Activity Index (PMI) from the Eurozone (May), fact 51.8, forecast 51.6.
- Business Activity Index in the services sector of the Eurozone (May), fact 52.9, the forecast 52.5.
- Business Activity Index in the services sector in the UK (May), fact 51.0, forecast 50.6.
Business activity in the European services sector improved in May. The only exception was France, where this figure did not meet expectations. At the same time, the average indicators remain ascending, moving from annual minimums both in the eurozone and in the UK.
Fig. 1. Markit Eurozone composite index of business activity (PMI) chart
Positive data on Europe, first of all, affected European stock indices, supporting national currencies, but in overbought conditions, the growth of the euro and the pound against the dollar remains a limited trading channel.
Fig. 2. EUR/USD chart. The current price is 1.1280
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