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- The euro area economy continued to expand at a steady pace in August
The euro area economy continued to expand at a steady pace in August
- Flash Eurozone PMI Composite Output Index(1) at 53.3 (53.2 in July). 7-month high.
- Flash Eurozone Services PMI Activity Index(2) at 53.1 (52.9 in July). 3-month high.
- Flash Eurozone Manufacturing PMI(3) at 51.8 (52.0 in July). 3-month low.
- Flash Eurozone Manufacturing PMI Output Index(4) at 54.0 (53.9 in July). 8-month high.
The euro area economy continued to expand at a steady pace in August. At 53.3, up from 53.2 in July, the flash estimate of the Markit Eurozone PMI® inched up to a seven-month high. With the index only slightly above the average seen throughout the year to date, growth in the third quarter is likely to be similar to that seen in the first half of the year.
Chris Williamson, Chief Business Economist at IHS Markit said: "The August flash PMI indicates that the eurozone remains on a steady growth path in the third quarter, with no signs of the recovery being derailed by 'Brexit' uncertainty. "The survey data are consistent with the region's GDP growing at a quarterly rate of 0.3% in the third quarter, or 1.2% annualised, which is similar to that seen on average over the first half of the year.
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