Activity in the euro area services sector turned out to be slightly stronger in December than previously thought. That emerges from definitive figures from market researcher Markit.
The purchasing managers’ index reflecting activity in the sector recorded a level of 52.8, while a provisional estimate indicated a level of 52.4. In November the indicator was 51.9. A position above 50 indicates growth, below which shrinkage. The composite index, including industry, was 50.9 against 50.6 a month earlier.
The index for the German services sector was 52.9. The indicator for the service sector in France was 52.4. Levels of 51.1 and 54.9 respectively were measured for Italy and Spain.
The index for the British services sector registered a final reading of 50 for December. With a provisional estimate that was 49. In November the index came out at 49.3.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at nicholas.dekramer@economicinform.com
