Activity in the eurozone services industry expanded for a second month in a row in August as consumer confidence continued to improve. The Purchasing Managers' Index (PMI) for the sector, which includes banks, hotels and IT companies, rose to 52.0 in August from 50.2 in July, where a reading above 50 indicates expansion. The index is based on a survey of 2,000 purchasing managers. The PMI improved in the eurozone's three largest economies, with all three indices indicating that their respective sectors expanded in August. The German PMI rose to 51.8 from 48.1 in July, with France rising to 52.0 from 51.8 and Italy at 52.4, up from 52.0. Meanwhile, in the UK, the Chartered Institute of Purchasing and Supply (CIPS) said its services sector index edged up to 57.0 from 56.6, with the new business index jumping to 57.1, its highest since January 2001. The sub-index for orders and incoming new business rose to 57.5 from 56.0, for the highest reading since February 2001. The index for employment rose to 50.4 from 47.7 the previous month, indicating the first rise in staffing levels since September 2001. /www.fxcentre.com/