"The recovery in the services sector is slow and shows shaky development. Since the end of last year, the services economy has lost momentum, and even though the index is in the growth zone, the level of activity is probably insufficient to lead to new jobs in the sector," says Jörgen Kennemar, responsible for the analysis of the Purchasing Managers' Index, in a press release.
The composite index for May, which also includes the manufacturing industry, rose to 54.9 from 53.9 in April.
For the eurozone, the composite index for May fell to 48.5 from 48.8 in April. This was a smaller decline than the preliminary estimate of 47.5 for May.
