FX.co ★ Eurozone Services Activity Continues to Grow

The S&P Global Eurozone Services PMI edged down to 51.6 in August 2026 from 51.7 in July, a slight downward revision from the flash estimate of 51.7 but still broadly in line with the initial market consensus of 51.5. The reading confirms the ongoing recovery of the Eurozone services sector after the war in the Middle East led to a spike in energy prices and PMI contractions over the three months to June. New orders increased as domestic demand in member countries outpaced export orders. New business grew faster than output, even as firms continued to work through their backlogs. This resilience in demand prompted companies to expand employment at the fastest pace in eight months. However, input costs climbed to a three-month high as wholesale energy prices picked up again during the period.