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Euro zone August business growth keeps up solid pace on strong mfng datda

Sata suggest 0.5% economic growth in the 19-member single currency bloc during July-September


Euro zone business growth maintained a solid clip in August, driven by the best manufacturing performance in 6-1/2 years despite a strong euro, easily offsetting a mild slowdown in services growth, a key private sector survey showed on Wednesday. Taken together with a mild pickup in price pressures, the data is likely to support expectations that the European Central Bank will proceed later this year with making plans to scale back its multi-billion euro monthly asset purchases. The Flash Eurozone Composite Purchasing Managers' Index (PMI), generally considered a good ...

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First Published: Wed, August 23 2017. 16:23 IST