New data HCOB Services PMI (Jan)

2/5/2025

actual 51.3, previous 51.6

The event is the HCOB Services PMI (Purchasing Managers' Index) for the month of January in the European Union (EU) region. The actual PMI value reported is 51.3, which is slightly lower than the previous month's value of 51.6. The market expectation, or estimate, was 51.4, so the actual value came in slightly below expectations.

The Services PMI is a key economic indicator that measures the performance of the services sector in an economy. A PMI value above 50 indicates expansion in the sector, while a value below 50 indicates contraction.

Given that the actual value of 51.3 is still above 50, it suggests that the services sector in the EU continued to expand in January, although at a slightly slower pace compared to the previous month. This event is considered to have a high impact on the EUR currency, as it provides insights into the overall economic health and performance of the EU services sector.

This is not investment advice. Remember to verify the information provided here.