Markit Economics released final services purchasing managers' index (PMI) for Germany on Friday. Germany's final services purchasing managers' index (PMI) increased to 55.2 in May from 54.5 in April, in line with the preliminary reading.

The index was mainly driven by a faster growth in output.

"German service providers enjoyed another month of steady output growth in May, with the pace of expansion picking up since April. Moreover, it seems as if the German employment machine keeps humming, with companies continuing adding to their payrolls," an economist at Markit, Oliver Kolodseike, said.