French Services PMI, German Services PMI and German Manufacturing PMI all soared well past expectations.
The PMI services index for the 17-nation bloc fell to 53.7 from 54.2 while the PMI composite reading dipped to 53.3 from 53.6.
The German PMI services report for August was weaker than expected.
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There was more downbeat news for the economy Thursday in the shape of a bigger than forecast decline in the April reading of the PMI services index, which fell to 54.3 from 57.1 consistent with sharp drops in construction and manufacturing detailed earlier this week.
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The German data is also stronger than expected, where the services PMI bounced to 54.7.
The overall EU services PMI came in slightly better than expected but was still weak, overall.
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Its services PMI reading for Germany last month was 52.1, down from 52.8 in February.
By contrast, it said Spain's services PMI figure rose to 46.3 from 41.9 in February.
Other U.S. economic data due for release Friday includes ISM non-manufacturing index and the global services PMI.
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The Services PMI index is a key indicator of the European economy, more so than the index for manufacturing.
Outside of the eurozone, Markit's services PMI reading for the UK rose to 55.3 in March, from 53.8 in February.
This helped push the overall euro area Services PMI and Manufacturing PMI unexpectedly higher to readings of 56.0 and 56.5, respectively.
U.S. economic data due for release Tuesday includes the weekly Goldman Sachs and Johnson Redbook retail sales reports and the global services PMI.
The euro area services PMI also reversed most of the fall registered in the past couple of months, and rose to 56 from 55.5.
The Euro zone services PMI for August came in weaker, too.
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U.S. economic data due for release Wednesday includes the ADP national employment report, the ISM non-manufacturing report, the weekly DOE energy stocks report and the global services PMI.
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But quickly re-energized to trade a session high as the same data from Germany, the backbone of Europe, showed strong activity (48.8 and 55.3 manufacturing and services PMI).
The German services PMI was at 57.3, its highest level since August 2007, and its composite PMI was at 59.3, back at its April high, the strongest level since January 2007.
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the ADP national employment report, the ISM non-manufacturing report, the weekly DOE energy stocks report and the global services PMI.
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The economic announcements out of the euro zone proved inconsequential today with Flash PMI figures for Services and Manufacturing in France, Germany and the entire Euro area coming in right in line with expectations.
There was another disappointing economic report from Spain Tuesday, as its services sector PMI fell sharply.
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The composite purchasing-managers' index (PMI), which covers services as well as manufacturing, inched up in June but at 46.4 remained well below the 50 level that separates expansion from contraction.
Its closely-watched composite purchasing managers' index (PMI), which tracks both the services and manufacturing sectors, also suggested that Germany's economy slowed to "near stagnation" last month, while France's recorded its biggest contraction for four years.
The Markit eurozone services purchasing managers' index (PMI) rose to 49.2 last month, up from 48.8 in February.
Including services and manufacturing, the eurozone PMI composite output index was at 47.3, up from 46.5 in November.
"On the contrary, if you look at the services sector, we see that the PMI continues to fall and is now at the lowest level since 2009 and this is a reflection of extremely weak domestic demand and with the budgetary austerity continuing in Europe for sure, domestic demand is going to remain negative in the near future, " he said.
Evening things up, the European composite PMI for January beat expectations (47.5 and 48.3 manufacturing and services).
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