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Markit: Eurozone flash PMI hits seven-month high

by ChemOrbis Editorial Team -
  • 23/08/2016 (15:47)
According to a purchasing managers’ index (PMI) released by Markit Economics, the Eurozone did not suffer from a post-Brexit decline over the summer with a poll of purchasing managers at the region’s companies reaching a seven-month high in August. Still, the flash PMI for the single currency area indicate that growth may lose power over the autumn.

The PMI slightly rose and reached 53.3 this month after posting 53.2 in July. Analysts comment that the August flash PMI suggest that the Eurozone continues to follow a stable growth path in the third quarter.

However, a deceleration in the growth of manufacturers’ order books and the lower rate of new hires shows growth could slow in the months ahead.

A sub-index for price pressures shows that inflation is still quiet on the back of decreasing selling prices again this month. Inflation in the region is 0.2% which is lower than the European Central Bank’s target of just under 2%.
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