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Eurozone manufacturing growth at three-month low in August

Staff Writer |
Growth in the eurozone manufacturing sector lost momentum in August. Rates of expansion slowed for production, new orders and new export business, resulting in weaker job creation.

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The final Markit Eurozone Manufacturing PMI posted 51.7 in August, a three-month low and down further from June’s year-to-date high. The final reading was also a tick below its earlier flash estimate of 51.8.

The PMI has now signalled growth for 38 consecutive months, marking a continuation of its survey-record unbroken sequence above the 50.0 stagnation mark.

Growth of euro area manufacturing production slowed to a three-month low, while new order inflows rose to the weakest extent in one-and-a-half years.

Companies reported slower increases in new business from domestic and export sources. Headline PMI data signalled that six out of the eight nations covered by the survey saw expansions during August. Growth imbalances remained, however.

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