Euro Area Services PMI Rises to 51.6, Ending 3-Month Contraction
Updated
Updated · TradingView · Jul 24
Euro Area Services PMI Rises to 51.6, Ending 3-Month Contraction
3 articles · Updated · TradingView · Jul 24
Summary
July flash data showed the euro area's services PMI climbing to 51.6 from 49.4 in June, a five-month high that beat the 49.8 consensus and pushed the sector back into expansion.
Business activity increased again after three months of decline, driving the turnaround and helping service providers lead overall private-sector job creation.
Cost pressures remained persistent, with operating expenses rising at a broadly unchanged pace, but output price inflation eased as firms passed through less of those costs to customers.
Business confidence also improved, with year-ahead sentiment strengthening as companies grew more optimistic about demand and broader economic conditions.