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EN
Euro Area Business Activity Above Expected, But Too Modest for Euro to Break Through
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Action Forex
Both the service sector and manufacturing performed below expectations and showed a deepening decline.
The main positive surprise came from the German services sector, where the index jumped from 49.3 to 52.8 against the expected 49.5.
These figures signal a return to service growth, while market participants had expected the downturn to continue, with values below 50.
Germany pulled up the service sector figures for the entire eurozone, ensuring that the index rose to its highest level since December.
The composite index reached 51.2, its highest level since May last year.
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