Eurozone services slowing more than expected

The Eurozone Services Business Confidence Index for 2024/7 was 4.8, lower than the market forecast of 5.5, and was revised downward from 6.2 the previous month.

Business conditions judged by service providers over the past 3 months fell into a negative zone (0.5 compared to 2.4 in June), and expectations for demand for the next 3 months also declined (9 versus 10.8).

Meanwhile, companies anticipated that employment levels would continue to rise moderately over the next 3 months (1.2 vs. 3.9), and expectations for sales prices declined (12.3 vs. 13.9).

Source: European Commission