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Here come European PMIs...

Jan 6, 2016, 14:07 IST

Britain's Prime Minister David Cameron and Germany's Chancellor Angela Merkel (R) pose for a family photo during a European Union leaders summit in Brussels, December 17, 2015. EU leaders are due to discuss on the migrant crisis and Cameron's demands for reform of the bloc ahead of a referendum he plans to hold by the end of 2017 on Britain's continued memebership.REUTERS/Francois Lenoir

It's service sector PMI day in Europe, meaning we're getting a snapshot of growth in the area across the continent.

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The purchasing managers' index from Markit gives an indication of whether service sectors are growing or contracting, giving a number between 0 and 100 to indicate just how fast or slow.

Anything above 50 signals growth - the higher the better - while below means contraction.

We're also getting composite estimates for December growth in Germany, France, and Europe as a whole - in other words, how the economy did overall.

Here's what we've got so far:

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  • Spain: Big miss - 55.1, against a forecast of 56.4 and down from November's figure of 56.7;
  • Italy: Big beat - 55.3, against a forecast of 53.6 and up from November's figure of 53.4.
  • French services: Miss - 49.8, against a forecast of 50, flat on November's figure.
  • French economy: 50.1, down from 50.3 in November.

We'll update this post with figures for France, Germany, Britain, and the Eurozone as a whole as they come in. Keep checking back.

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