Here come eurozone services PMIs...

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.

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.

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

NOW WATCH: What you need to know before going into business with family

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at