Quick Updates: European Services PMI Fails to Surprise the Market - Forex News by Strategia Forex

Quick Updates: European Services PMI Fails to Surprise the Market

Posted Tuesday, February 5, 2019 by
Arslan Butt • 1 min read

The European Services PMI figures are out but failed to bring any volatility in the market. Here’s an update on them:

Spanish Services PMI – The Spanish service sector saw growth of activity quicken in January, despite a softer increase in new work at the start of the year. Companies were encouraged to take on extra staff at a faster pace, while business confidence improved. Meanwhile, input prices rose at a slightly softer pace, but output charge inflation ticked up. The headline Business Activity Index rose to 54.7 in January from 54.0 in December.

French Final Services PMI – Service providers in France recorded a second successive monthly contraction in business activity during January. Moreover, the pace of decline accelerated to its quickest for almost five years. The figure came out at 47.8 vs. 47.5 forecast.

German Final Services PMI – Germany’s service sector enjoyed a slightly firmer rate of business activity growth at the start of the year, according to the latest PMI survey, with business confidence towards the outlook also recovering slightly from the recent low in December. German Services PMI ticked up to 51.2 vs. 50.8 beforehand.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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