Further signs of a pick-up in the crucial services sector in the euro zone economy emerged today as a closely watched survey found business activity accelerating during July. The euro zone purchasing managers' index for services rose to 53.5 in July from 53.1 in June, and expectations of a more modest rise to 53.3. A reading above 50 indicates that the services sector is expanding, while one below 50 indicates contraction. A breakdown of the survey found the new business index rising to 52.9 in July from 52.3 in June, while employment increased to 50.4 from 50.3. Price pressures also appeared to pick up, with the prices charged sub-index rising to 48.9 from 48.2 and the input prices index increasing to 58.5 from 55.7. Meanwhile, the business expectations sub-index slipped to 62.8 from 63.1.