The eurozone’s services PMI which tracks variables such as sales, employment, inventories and prices is expected to rise to in Wednesday’s release, in line with preliminary estimates. The final PMI data is expected to reveal that in December, the S&P global eurozone services PMI rose to 49.1, from 48.5 in November, beating market forecasts of 48.5.

As the index is less than 50, the reading continues to point to a contraction in the services sector although it is the smallest in four months.

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