real-time news and commentary for investors
Thursday, Aug 22
Eurozone business growth hits two-year highs
- Eurozone flash manufacturing PMI has increased to a 26-month high of 51.3 in August from 50.3 in July and exceeded consensus of 50.8. Services 51 (two-year high) vs 49.8 and 50.2. Composite output 51.7 vs 50.5 and 50.9. Manufacturing output 53.4 vs 52.3.
- "The third quarter is shaping up to be the best that the euro area has seen in terms of business growth since the spring of 2011," says Markit. "The upturn is being led by Germany," while "a long-awaited recovery seems to be taking shape in the periphery." However, a "big question mark" still hangs over France. (PR)
- The euro is flat vs the dollar after being lower earlier.
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