The eurozone Purchasing Managers’ Index (PMI) published by „S&P Global“ – an important indicator of the overall economic condition – reached 52.1 points in August, compared to 52 points in July. An index above 50 points indicates growth, while below 50 points indicates contraction.
“The steady and strong growth in business activity in August sets the conditions for eurozone GDP to grow firmly by about 0.3% in the third quarter,” said „S&P“ chief business economist Chris Williamson. “The manufacturing sector is again the leader, achieving the strongest growth in four and a half years, while the services sector plays a supporting role.”
