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Economy in Brief

Service Sector Indexes for Euro area and the UK
by Robert Brusca September 5, 2007

Service sector trends are still rising in the Euro area and the UK.

The services industry eased in August in the Euro area, if below the Zone’s 3-month average, but not by much. If these indexes are a litmus test on how much the services sector (that includes the troubled financial sector) has been hurt by the recent market unrest, it is nothing to worry about. Unfortunately it is too soon to tell. Germany, a country that had two banks propped up by authorities saw its service sector strengthen in August. Germany’s sector reading is in the 93rd percentile of its range. France, Spain and Ireland show current readings that are below their 12-month averages. Clearly the Euro area has seen some slowing downs in its service sector. And while there seems to be different trends in play across countries the Euro area itself is still in the growth zone.

NTC Services Indexes
  Aug-07 Jul-07 3Mo 6Mo 12Mo Percentile
Euro-13 58.04 58.34 58.24 57.72 57.46 80.1%
Germany 59.76 58.47 59.04 58.33 57.36 93.1%
France 58.40 58.93 58.77 58.68 59.06 57.5%
Italy 56.18 58.46 57.52 56.18 55.69 57.2%
Spain 53.51 56.33 55.05 55.37 56.74 48.7%
Ireland 56.98 56.19 56.70 57.42 59.19 51.2%
EU only
UK 57.55 57.02 57.44 57.39 58.13 78.9%
percentile is over range since May 2000    
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