Eurozone services PMI rises more than expected

FXStreet (Mumbai) – The Markit final Eurozone services PMI printed at 53.8 in May, beating the estimate of 53.3. However, the actual print was lower than the previous month’s print of 54.1.

The services activity rose at the slowest pace in three months during May, as growth of new orders moderated and business optimism slipped to a five-month low. Input prices rose at the strongest pace since December 2012, mainly on account of higher staff costs and a recent increase in oil price.

However, the average service charges fell for the forty-second consecutive month in May.

The Markit final Eurozone services PMI printed at 53.8 in May, beating the estimate of 53.3. However, the actual print was lower than the previous month’s print of 54.1.

(Market News Provided by FXstreet)