Markit's Eurozone Manufacturing Purchasing Managers Index (PMI) posted 51.7 points in August this year, down from July’s 52 points and declining compared to the earlier flash estimate of 51.8 points.
Growth in the euro zone manufacturing sector lost momentum in August. Rates of expansion slowed for production, new orders and new export business, resulting in weaker job creation.
“Euro zone manufacturers reported a wavering performance in August, with signs that growth could slow further in coming months, “ stated Chris Williamson, chief economist at Markit. “The rate of expansion dipped to a three-month low but is at least holding up in the face of the uncertainty caused by the UK’s vote to leave the EU. The survey indicates that factory production is growing at a steady though unexciting annual rate of just under two percent,” he added.