Eurozone PMI data declines

The index declined by 0.3 points from its previous reading of 51.7, signaling slower growth momentum in the services sector.

Meanwhile, the final composite PMI dropped to 51.7, missing market expectations of 51.9. The decline from the previous reading of 51.9 indicated a moderation in overall economic expansion. Although both indicators remained above the 50-point threshold, the weaker figures could influence European Central Bank (ECB) monetary policy expectations.