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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK services PMI advanced more than expected in May
In the UK, the services PMI climbed to 62.90 in May, compared to a level of 61.00 in the prior month. Markets were expecting the services PMI to rise to 61.80.
Euro-zone services PMI rose more than anticipated in May
In Euro-zone, the final services PMI rose to a level of 55.20 in May, compared to a reading of 50.50 in the prior month. Markets were expecting the services PMI to record a rise to a level of 55.10.
German services PMI rose as expected in May
In Germany, the services PMI advanced to 52.80 in May, at par with market expectations and compared to a level of 49.90 in the prior month.
US initial jobless claims declined more than expected in the week ended 28 May 2021
In the US, initial jobless claims dropped to 385.00 K in the week ended 28 May 2021, compared to a revised level of 405.00 K in the prior week. Markets were expecting the initial jobless claims to record a fall to a level of 395.00 K.
US ISM services index advanced more than expected in May
In the US, the ISM services index rose to 64.00 in May, compared to a level of 62.70 in the prior month. Markets were expecting the index to record a rise to a level of 63.00.
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