European Services Expand for First Time in 19 Months

Euro-area services expanded in August for the first time in 19 months, led by Germany, after the 17-nation currency bloc’s economy emerged from a recond-long recession.

An index based on a survey of purchasing managers rose to 51 from 49.8 in July, London-based Markit Economics said today. Economists forecast an increase to 50.2, according to the median of 32 estimates in a Bloomberg News survey. A reading above 50 indicates expansion.