The growth of services in the euro area in August

Data released by Markit Corporation today showed that the composite Purchasing Managers' Index, which combines the industrial and service sectors in the euro zone, fell to 59.0 points in August, compared to 60.2 points in July, which was the highest level in 15 years. The services Purchasing Managers' Index (PMI) for the 19 member states of the euro area came to 59.0 in August, after rising to 59.8 in July, which was the highest reading since June 2006. The future expectations index for the services PMI fell to 68.9 points in August from 69.1 points in July, the lowest reading in four months, and the input price index fell to 69.5 points in August from 69.9 points in July.