The euro area's Services PMI was revised higher today to 56.0 from 55.4 which was expected to remain steady. The sector's activity is still slower from April's 56.7.

The Composite PMI was also supported by the upside revision for the services PMI as the index moved higher to 55.8 from 55.4 but is still slower from April's 57.8 on the back of the slowing manufacturing activity.