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EZ PMI services moves back to 50.0 (first time not in contraction for 8-months)


The EZ manufacturing PMI was a little lower than expected (largely driven by the German disappointment) but the services number came in at the 50 breakeven level. Highlights from the press release:

  • "The rest of the eurozone meanwhile collectively reported growth of output for a second month running, contrasting with the declines seen over the prior five months, enjoying the largest monthly improvement since last May. Faster service sector growth was accompanied by a near stabilisation of manufacturing output."
  • Employment: "A marginal drop in employment in Germany was accompanied by a marginal rise in France and a nine-month high rate of job creation in the rest of the region."

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