Today in the morning markets got to know the results of the PMI service in Germany and throughout Eurozone for September. As it turned out the numbers are poor and noting strong declines. Details can be found in this article.

The worst quarter in the last three years

The report on the German economy shows that PMI service in August declined to 39-month-lows being placed at 50.90 (lower from 51.70 recorded in August). So historical data is shown on the chart:

They refer to the total index for industry and services, which were also falling to 16-month lows (from 53.30 to 52.80 in August, September). Oliver Kolodseike, an economist at IHS Markit, commented on the results: “The German service sector have had much better recently – the decline in the main reading for 3-year low certainly cannot impress. Adding to the slowdown in new orders and falling levels of business activity, concerns about the overall health of the market are becoming more reasonable. “

PMI for the euro zone on half-yearly lows

The situation has not presented any better for the whole euro area. Here, the final reading of the services PMI stood at 52.20 – this result is indeed slightly better than the preliminary reading (52.10), but compared to the final release of August (52.80), again we observe decline. Gently falls also combined PMI, which level of 52.90, was finally on 52.60:

Only France has noted growth among the major European economies – here values were at 15-month peaks. But the result of 52.70, is still worse than the preliminary results estimated in the level of 53.30.

EURUSD without much reaction

At EURUSD – no stronger movement after the publication of the data.

EURUSD bounces twice from yesterday 1.1228 resistance area, which effectively blocks a stronger appreciation: