EU service sector growing in confidence

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Confidence among service sector firms across the euro zone has risen to a 15-month high, according to a recent survey covering the 16 countries that share the euro as their currency.   Markit's services business expectations index rose to 59.1 in May from 54.4 in April, giving rise to hopes that the worst of the recession may be over.   As a number over 50 indicates that more companies are confident than not about the future, there are now growing signs of optimism over the economy.   The survey also revealed encouraging news about the level of service sector activity in May.   While the services purchasing managers index for the euro zone indicated continuing overall contraction, at 44.8, it was nevertheless a seven-month high, and up from 43.8 in April.   Business confidence was strongest in Italy, which showed a 27-month high. It was also at a 16-month high in Germany, and a 12-month high in France.   *┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *