Euro area: Manufacturing strengthens as services stall – Commerzbank
Commerzbank’s Senior Economist Dr. Vincent Stamer notes that Euro area business sentiment has stabilized at a moderate level, with the composite PMI edging up from 52.0 to 52.1 in August, slightly above consensus.
Euro area manufacturing activity strengthened in August, reaching a four-year high, while services sector remained stagnant, according to Commerzbank's Senior Economist Dr. Vincent Stamer. The composite Purchasing Managers' Index (PMI) for the Euro area increased from 52.0 to 52.1, slightly above expectations. However, the services sub-index for France and Germany fell below the 50-point mark, indicating a decline in business sentiment.
In the two largest Eurozone economies, France's composite sentiment indicator declined from 49.4 to 48.8, while Germany's PMI decreased from 51.3 to 51.0. The manufacturing PMI rose to 52.8, driven by public investment in Germany. Overall, the Euro area's business sentiment is currently stable at a moderate level, with the economy experiencing moderate growth for the past few years.
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