Eurozone services PMI edged down in July

FXStreet (Mumbai) – The Eurozone Services PMI edged down to 54.0 in July, from 54.4 in June, but above the earlier flash estimate of 53.8. The index has now stayed above 50.00 throughout the past two years.

As per the official report, the growth rate of new business remained among the fastest seen since mid-2011 and job creation was registered for the ninth straight month in July. Average cost burdens at Eurozone service providers increased for the sixty-eighth consecutive month in July. In contrast, average selling prices fell for the forty-fourth straight month.

Meanwhile, The final Markit Eurozone PMI Composite Output Index posted 53.9 in July, down from 54.2 in June and above the earlier flash estimate of 53.7.

The Eurozone Services PMI edged down to 54.0 in July, from 54.4 in June, but above the earlier flash estimate of 53.8. The index has now stayed above 50.00 throughout the past two years.

(Market News Provided by FXstreet)