Eurozone services sector reports fastest expansion since August 2007
Jun 3rd, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The recovery in the Eurozone service sector gathered further momentum in May, leading to a slight increase in employment for the first time in almost two years. The final Eurozone Services Business Activity Index rose to 56.2, up from 55.6 in April, its highest level since August 2007 -- the month of the onset of the international credit crunch -- and above the earlier flash estimate of 56.0. The headline Business Activity Index is based on survey responses to a single question asking companies to compare actual levels of business activity at mid-month to one month earlier.