PMI Service: Eurozone records better than expectations

Conflicting advice from Service PMI Index of the major Eurozone economies. In Italy, the indicator of the non-manufacturing recorded in July an increase to 52 points. The figure compares with 51.9 points the previous month and 51 points expected by analysts. As for Germany, the July PMI stood at 54.4 points against 54.6 points recorded in the estimate. Finally, at the Eurozone level, the PMI services amounted in July to 52.9 points against 52.7 points estimated.
Recall that a PMI Services, below 50, reports a contraction of the economy and a higher level indicates growth.