The final reading of the PMI services PMI from the euro area came at 58.3 in June, compared to 55.2 in the initial reading, and better than expectations, which indicated that it had risen to 58, making June the fourth consecutive month for the index, above the 50-point level, recording the fastest growth pace in 15 years. Supported by higher production levels in the manufacturing and services sectors in the Eurozone.
The final reading of the service sector index improved in most of the eurozone countries, as Germany recorded a growth of 57.5, France 57.8, Italy 56.7 and Spain 62.5.
On the other hand, the services index rose in its final reading in Britain in May to 62.4, which was better than the market expectations, which indicated a rise to 61.7, while it came less than the initial reading that showed a growth of 62.9 for the index.
The euro is trading at 1.1873 levels against the US dollar, up about 20 points from its lowest level during the opening session of the week today, Monday, while the British pound is trading against the US dollar at 1.3853 levels.
07/11/2024
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