Mixed Services Figures From the Eurozone Today

The service sector is still pretty soft in Europe and today's report didn't really tell us much

Written by: Skerdian Meta • Monday, May 6, 2019 • 1 min read

• Last updated: Monday, May 6, 2019

The services reports from the Eurozone were released this morning. We have seen some green shoots from the European data recently after the deterioration that we saw last year, which followed at the beginning of this year as well. So, there were hopes that the service sector at least could make a reversal, because manufacturing is still at a difficult position in Europe and it is expected to get worse after Trump introduces tariffs on European cars. Below are the numbers:

Services PMI Numbers	Actual	Expected	Previous
Spanish Services PMI	53.1	54.9	56.8
Italian Services PMI	50.4	54.4	53.1
French Final Services PMI	50.5	50.5	50.5
German Final Services PMI	55.7	55.6	55.6
Eurozone Final Services PMI	52.8	52.5	52.5
Eurozone Sentix Investor Confidence	5.3	1.1	-0.3
Eurozone Retail Sales	0.0%	0.1%	0.5%

Retail sales were expected to decline in March but they remained flat which is at least a positive thing, besides the jump in the investor confidence, which I don’t know where it comes from since the Eurozone economy is still softening, including inflation. Services softened as well in Italy and Spain, but increased in Germany. So, today’s services PMI figures don’t give us any direction either. I suppose we have to wait for the manufacturing data next week.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.