FX.co ★ Eurozone Services Activity Returns to Expansion as HCOB PMI Climbs to 51.7 in July

The euro area’s services sector moved back into expansionary territory in July, as the HCOB Eurozone Services Purchasing Managers’ Index (PMI) rose to 51.7. The latest reading, dated July 2026, marks an improvement from the previous level of 49.4 and signals a shift from contraction to growth in the region’s dominant services industry.

With a PMI level above the 50.0 threshold indicating expansion, the move from 49.4 to 51.7 suggests that business activity in areas such as finance, hospitality, transport and other service segments strengthened over the period. Both the previous and current readings are reported for July 2026, with the updated data released on 5 August 2026, providing the market with a more optimistic snapshot of the eurozone’s services performance.

The uptick in the HCOB Eurozone Services PMI will be closely watched by investors and policymakers as they assess the resilience of the bloc’s economy. A sustained period above 50 would typically be interpreted as a constructive signal for growth prospects and corporate revenues within the euro area’s services sector.