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Growth of euro area private sector remains modest in August
The IHS Markit Eurozone PMI® Composite Output Index signalled the continued expansion of the euro area private sector during August. Growth nonetheless remained modest, despite improving slightly since July. After accounting for seasonal factors, the index posted 51.9, compared to 51.5 in the previous month. In line with the recent trend, there remained a historically marked divergence between the performance of the manufacturing and services economies. Whereas the latter expanded at a solid, and slightly faster pace, goods producers endured another period of falling output (the seventh in successive months). At the ... (full story)