In Spain, Italy and Total in the euro area, PMI indexes for services are above the limit of 50 points. Of them, only Italy did not improve the result from a month ago, without matching the forecasts, but the country still has strong data (52.1 points).
Germany and France have little to the border separating good from bad economic situation (50 points). In both cases, PMI indexes grew within a month, beating the expectations of economists.
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Macronext
PMI for services in Germany
From the perspective of Poland, the good condition of the German economy is crucial. This is the most important player in Europe and commercial partner number one for our country. The PMI index increased from 47.1 to 49.7 points with slightly lower forecasts (49.4 points).
See also: Crisis in the German economy can hit Poland. Experts warn
“The service sector in Germany showed signs of stabilization at the end of the second quarter, and economic activity was noted only by a slight decline in Juneaccording to the study published on Thursday, “writes Reuters.
“For three months, service providers have been experiencing a fairly difficult period,” said Cyrus de la Rubia, chief economist Hamburg Commercial Bank, adding that since the pandemic time activity in this sector has been more unstable.
The study showed slow down the decline in the number of new ordersas well as a decrease in arrears in the implementation of orders of the 14th month in a row. Employment continued to grow At a moderate pace for the sixth month in a row, because the companies sought to increase production capacity.
“Looking from the positive side, this can be interpreted as a sign of certainty of service providers that they will soon receive more orders” – said De la Rubia. He added:”Being a bit more skeptical, higher employment may suggest that more people are needed to achieve a similar level of activity as before“.
