Here come eurozone services PMIs...

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Merkel Hollande

REUTERS/Tobias Schwarz

German Chancellor Angela Merkel and French President Francois Hollande attend the Petersberg Climate Dialogue conference in Berlin, Germany, May 19, 2015.

It's a massive day for the eurozone economy today, with the ECB meeting announcements at 12:45 p.m. GMT (7:45 a.m. ET) taking centre stage.

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But first it's the turn of Markit's purchasing managers' indices (PMIs) for the service industry.

PMIs are early data based on private business surveys, which indicate whether a sector is growing and how fast, months before the official data is released

Here's what we've got so far:

  • Spain services PMI: 56.7 (56.6 expected, 55.9 previous)

Anything over 50 signals growth, and the higher the number, the faster the rate of expansion.

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We'll keep updating this post as the rest of the figures roll out this morning.

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