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
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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