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Eurozone Final Service PMIs below expectations

EUROZONE DATA
MNI (London)
  • Final readings for the Service PMIs for Spain, Italy, France and the Eurozone saw all but Germany coming in below both forecasts and flash readings.
  • All readings remained above the break-even point of 50 except for German services which saw a contraction (albeit less extreme than expected) in December.
  • Across the region, growth rates weakened and job creation slowed against a backdrop of persistent cost inflation. New business growth was seen easing due to the surge in COVID-19 cases.
  • In Germany in particular, service sector activity dipped due to COVID-19 restrictions affecting the unvaccinated, however growth expectations remained optimistic

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