EU HCOB Services PMI Final (Jan) 51.6 vs. Exp. 51.9 (Prev. 52.4)
Importance
Level 1
- “The expansion of the service sector is relatively broad-based geographically. In Germany, Italy, and Spain, there has been growth in each month since September, with France an outlier. There, the difficult political situation appears to be affecting business, which was also reflected in a significant slump in business activity in January."
- “The European Central Bank is not currently particularly concerned about inflation, as the inflation target of 2% appears to have been achieved. However, it is still worth keeping a close eye on services inflation, as it remains quite sticky and if energy prices rise again – as they are currently doing due to the cold weather – the calm could quickly come to an end."
#EUR#DATA#IMPORTANT#EU SESSION#PURCHASING MANAGER INDEX#EU DATA