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Markedly lower growth of eurozone economy during August
The recovery of the eurozone’s private sector economy lost momentum in August as growth eased markedly on July’s recent peak. After accounting for seasonal factors, the IHS Markit Eurozone PMI® Composite Output Index fell to 51.9, down from 54.9 in the previous month. The index was, however, higher than the earlier flash reading (51.6) and represented moderate growth in activity. There was a divergence in performance in activity by sector during August. Manufacturing output rose markedly and at the fastest pace since April 2018. Although service sector activity also rose for a second month in succession, the ... (full story)