TNBiz (TNBiz)
Markets  |  June 02, 2012 09:14:44

The Markit publish the May data about activity in services in the euro area

LONDON (MEDIAFAX) - Markit notified on Tuesday, the final data on service activity in the euro area in May. Purchasing Managers' Index (PMI) in services, which is the dominant sector, the euro area in May, according to preliminary data, decreased to 46.5 points from 46.9 points in April.

It is the euro area services sector accounts for roughly two-thirds of economic activity in the region. The value of the index and got deeper fault the 50 points separating the drop from the activities of the industry growth.

According to a preliminary estimate of the combined company Markit Purchasing Managers' Index (PMI) manufacturing sector and services sector of the euro area fell this month to 45.9 points from 46.7 points in April and reached the lowest level since June 2009. Analysts who spoke to Reuters, while expected decline "just" to 46.6 points.

The main reason for this result is, according to Markit decline in new orders, which forces companies to reduce inventory and number of employees.

"Between Germany and the euro area is one big difference. This employment. While in Germany is as high as employment for a long time not in the euro area it is exactly the opposite. Here, the unemployment rate continues to grow. But this significantly affect the service sector. While in Germany, the service sector can flourish, because it has a buy one, in the euro area is exactly the opposite. It is therefore meaningful enough, why PMI in Germany is above the threshold 50bodovou, while in the euro area is below this level that separates growth and decline of sector, "said the agency Mediafax financial markets analyst at Next Finance Martin Prokop.

In addition, a situation exacerbated by tense political situation in Greece, which threatens to leave Athens the monetary unit, which, according to many experts, ended production and the euro area. Investors are also worried about further developments in the euro area debt crisis, especially the situation in Spain. The government is currently faced with an increase in financing costs. The main reasons are high levels of debt and banking sector problems caused by the collapse of the real estate bubble. The banking crisis in Spain considerably worse debt crisis, with which more than two years struggling eurozone. The markets are increasingly speculating that Spain will be forced to seek international financial assistance they have already asked three members of the total 17 - thus Greece, Ireland and Portugal.

The economy of the eurozone in the first quarter of this year compared to the previous quarter was flat. In the last quarter of last year, while gross domestic product (GDP) fell by 0.3 percent QoQ. In comparison to the first three months of the euro area economy stagnated. In the previous quarter, euro area economy grew by 0.7 percent.

The economy of the eurozone this year, according to the latest forecasts of the Organization for Economic Cooperation and Development (OECD) will fall by 0.1 percent next year should then grow by 0.9 percent. Even in its November forecast, while the OECD predicted for this year to grow by 0.2 percent in 2013 to 1.4 percent.

Tomáš Králíček,

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Společnost Markit zveřejní květnové údaje o aktivitě ve službách v eurozóně

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