Aug 23 Euro zone private business activity was stable in August, albeit at a muted level, but factories possibly face a tougher September as new order growth stumbled, a survey showed on Tuesday.
Muddying the outlook for the coming months is the United Kingdom’s vote in late June to leave the European Union, although so far the economic repercussions seem to have been confined to Britain, not its main trading partner.
“Policymakers will be quite encouraged that it is moving in a positive direction. It looks cautiously optimistic for the region in the face of the Brexit threat,” said Chris Williamson, Markit’s chief economist.
Markit’s flash composite Purchasing Managers’ Index edged up to a seven-month high of 53.3 from July’s 53.2, where any reading above 50 indicates growth. A Reuters poll of economists had predicted a slight dip to 53.1.
Read More: http://www.reuters.com/article/us-eurozone-economy-pmi-idUSKCN10Y0MQ?il=0
Source: Reuters (23 August 2016)