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Eurozone growth remains muted amid ongoing manufacturing woes
The recent soft patch in the eurozone economy continued into August, according to latest PMI data from IHS Markit, with activity rising modestly amid a marginal increase in new business. The recent pattern of services growth compensating for a downturn in manufacturing was repeated midway through the third quarter. August did see a drop off in confidence among companies in the singlecurrency area, with firms becoming more wary of hiring additional staff as a result. The IHS Markit Eurozone Composite PMI® ticked up to 51.8 in August according to the ‘flash’ estimate, up from July’s three-month low of 51.5 but ... (full story)