Singular Bank: In August, the final Eurozone services PMI rose to 52.9 (vs. 51.9 in July), representing its highest level in the last three months. In turn, this trend explained the rebound of the composite indicator to 51.0 (vs. 50.2 in July), slightly below the analysts’ consensus estimate (51.2).
In Germany, the services PMI fell to 51.2 (vs. 52.5 in July), in an environment marked by the deterioration in private sector confidence. Thus, despite a slight rebound in the manufacturing indicator, the composite PMI moderated to 48.4 (vs. 49.1 in July).
In France, the PMI improved to 55.0 (vs. 50.1 in July), with activity boosted significantly by the Olympic Games in Paris and the summer campaign. Thus, the composite PMI rose by 4.0 points to 53.1 points (49.1 points in July).
In Italy, the services PMI declined by 0.3 points to 51.4 points (vs. 51.7 points in July). Despite this, the composite index stood at 50.8 (vs. 50.3 in June) due to the rebound in manufacturing activity in August.
In Spain, the services PMI rose to 54.6 (vs. 53.9 in July) due to the good performance of demand during the summer season.
