Eurozone Einkaufsmanagerindex Dienstleistungssektor

The HCOB Eurozone Services PMI rose to 52.9 in August of 2024 from 51.9 in the prior month, firmly above the initial market expectations of 51.9, but revised downwards from the flash estimate of 53.3. It was the seventh consecutive expansion in the Eurozone’s services activity, at the sharpest pace in three months, with support from a concurrent rise in new business inflows. This was entirely due to higher demand from the domestic market, as the level of new export business recorded a slight pullback. In the meantime, outstanding order volumes fell for a fourth month, and the faster pace of work completion was owed to the upturn in employment levels across the currency bloc’s service providers. On the price front, input costs faced by companies rose at the softest pace in six months, but output charges received rose at the fastest pace since May.