(IHS Markit) Eurozone PMI output index fell to a two-month low of 59.5 in August compared to a 15-year high of 60.2 in July. The reading showed the second-fastest expansion since 2006.
The Services PMI Activity Index eased to a 2-month low of 59.7, in comparison to a July’s PMI of 59.8 driven by the post-pandemic economic recovery.
The Manufacturing PMI reached a six-month low of 59.2 in August buoyed by an improving post-pandemic economic outlook, in contrast to July’s high of 61.1.
The rate of employment in the Eurozone grew at an index similar to July’s 21-year high as companies expanded their workforce to handle increasing demand.
The cost of inputs in the Eurozone remained elevated due to the supply chain bottlenecks that have caused the third-highest inflation rate in 20 years.
Although business confidence went down with the rising cases of the fast-spreading Covid-19 Delta Variant, there is a positive outlook with the increasing employment rate.
DAX is up+ 0.29%, EURUSD is up +0.18%.