The pace of recovery in the services sector in the euro area has remained virtually unchanged in August compared with July, according to Markit index of purchasing managers released Friday.

The index of services, which represents about two-thirds of the economy of the euro area stood at 55.9 in August against 55.8 in July and a preliminary estimate of 55.6.

This is the 12th consecutive month that the index is above 50, which represents the boundary between growth and contraction, but it suggests that the sector's growth has plateaued.

The index has fluctuated between 55.5 and 56.2 the last five months.

The composite index, which incorporates data services and industry, fell to 56.2 against 56.7 the previous month and a previous estimate of 56.1.

• Slight improvement in the industry in July in the euro area
• The economic sentiment improved more than expected in the euro area
• Sharp decline in the ISM services in April in the U.S.
• Manufacturing activity in China to a high of six months
• Increase in consumption and income in the U.S. in November