FXstreet.com (Barcelona) - Services sector's activity has declined in January to levels right above the contraction Area, according to the latest Serioces Purchasing Manager's Index.

Services PMI decreased in the Euro Area to a level of 50.6 from 53.1in December, in a scale which means contraction of activity in numbers below 50.

The PMI index has fallen deeper than expected in January, as the preliminary estimation showed a milder decline to 52.0. This is the third consecutive decline of the Euro Zone's services PMI.