Eurozone service sector improved slightly in December

Noam Stiekema

The Eurozone service sector improved slightly in December after slowing in the previous month. The sector PMI index rose to 51.6 points in November compared with a result of 51.1 points. The level achieved missed the market forecasts of 51.9 points. The composite index also rose to 51.6 points during the reporting period after 51.1 […]

Eurozone

EurozoneThe Eurozone service sector improved slightly in December after slowing in the previous month. The sector PMI index rose to 51.6 points in November compared with a result of 51.1 points. The level achieved missed the market forecasts of 51.9 points. The composite index also rose to 51.6 points during the reporting period after 51.1 points in November. Analyzer expected level of 51.9 points.

According to the analysts the Eurozone economy ended 2014 with their worst quarter in more than one year despite some relief in December. The GDP will probably grow by only 0.1% in the fourth quarter.

Meanwhile the activity in the services sector in UK, which accounts for approximately 78% of GDP, remains strong despite the slowdown in December. The sector PMI index fell to 55.8 points, but is still green territory for the 24th consecutive month. In November the level was 58.6 points. The reported level, however, was the lowest of 19 months. The index retreat came after the weakening of new business. However, employment continued to increase.

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