Eurozone Services PMI Remained Unchanged at 56.2; Germany's Fall to 54.3

The Eurozone services PMI remained unchanged at 56.2, in line with Reuters; median consensus. Moreover, the composite PMI (which includes both manufacturing and services) also remained steady at 57.5. On the other hand, German services PMI came in at 54.3 in November, as compared to the market expectations for 54.9, down from October’s 54.7. Germany’s composite reading falls to 57.3, down from an expected 57.6, but up from 56.6 in October. Anything above 50-mark indicates growth.
On the other hand,Italy services PMIclimbed to 54.7 in November, higher than the Reuters’ median consensus of53.2, better from October’s 52.1. At the same time, composite readingrose to 56.0, a way better from October’s print of 53.9.Following this release, the EUR/USD is little changed at 1.1848, trading 0.15% lower.

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