EMU Markit Services PMI

Description

The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the services industry. The closely followed report, which is released on a monthly basis by Markit Group, is based on primary consultations with managers in the service economy. A reading above 50.0 represents expansion in the services industry, whereas a reading below 50.0 signifies contraction.
Latest Release: 03-12-2014 09:00:00
Next Release: 06-11-2013 09:00:00
Source:Markit Economics

The EUR/USD continues to trade on the defensive ahead of the U.S. Jobs report. While the ECB's refrained from taking a more dovish posture somewhat disappointed market expectations to some degree, there should not be a change in market sentiment as the widening growth divergence between the Eurozone and U.S. economies, continues to drive central bank activity. The central bank is concentrating on easing measures already announced last month, and which have yet to impact. A revision lower to the final Eurozone services PMI data added to selling impetus Friday.

Eurozone August retail sales rose 1.2% month over month, after falling -0.4% month over month in July. The three months trend rate rose to 0.6% from 0.3% in the three months to July and the annual rate jumped to 1.9% year over year from 0.5% year over year.

The Eurozone services PMI was revised down to 52.4 from 52.8 reported initially and versus 53.1 in August. The composite reading was revised down to 52.0 from 52.3 and versus 52.3 in the previous month.

The reading still point to expansion in overall economic activity, but the marked slowdown in recent months, coupled with other weak indicators will add to concerns about the outlook for the overall Eurozone economy.

The...

  • Forex » Weak Eurozone Services PMIs
    Posted Oct 3rd, 2014 at 09:01 AM

    Subsequent to yesterday’s poor to medium manufacturing figures, Markit Economics have updated their September Purchasing Managers Indices (PMI) for the Services sector across the Eurozone. The...

  • Forex » Improvement In Eurozone Services Sector
    Posted Aug 5th, 2014 at 08:48 AM

    Europe’s Services sector is faring somewhat stronger than the manufacturing sector according to the most recent Purchasing Managers Indices (PMI). Markit Economics have this morning provided...