Eurozone PMI slips more than expected in August

|By:, SA News Editor

The Markit Eurozone Manufacturing PMI fell to 50.7 in August vs. 51.8 in July and against a preliminary estimate of 50.8. Looking at some individual countries, the PMI slipped to 51.4 from 52 in Germany - the lowest level in about a year; Spain continues growth at 52.8 (down from 53.9); Italy falls into contraction, at 49.8 from 51.9 in August.

"The slowdown in industry is likely to add further fuel to the fire for analysts expecting additional monetary or fiscal stimulus to be implemented," says Markit's Rob Dobson.

The euro is flat on the session at $1.31.

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