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Economy in Brief

Service Sector Weakens in Europe
by Robert Brusca October 3, 2007

Service sector slows across EMU -- The Reuters/NTC EU indexes on the services sector show widespread weakness in September. For the Euro area 13, the index has dropped a sharp 3-plus points in September and the reading now resides only just above the midpoint of its range since May of 2000. In Germany, the reading holds in the 55th percentile of its range. For the other featured EMU countries the reading has dropped below the range midpoint. All readings remain above 50 and thus show continuing expansion in the sector. The UK index is relatively strong by comparison.

NTC Services Indexes
  Sep-07 Aug-07 3Mo 6Mo 12Mo Percentile
Euro area 13 54.22 58.04 56.87 57.20 57.26 54.0%
Germany 53.09 59.76 57.11 57.58 57.25 55.4%
France 56.79 58.40 58.04 58.28 58.67 48.0%
Italy 53.86 56.18 56.17 56.15 55.66 45.3%
Spain 52.37 53.51 54.07 54.65 56.38 42.1%
Ireland 54.76 56.98 55.98 56.31 58.46 41.9%
EU only
UK 56.69 57.55 57.09 57.24 58.10 72.9%
Percentile is over range since May 2000
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