The eurozone economy continued to expand at a measured pace in August, with the HCOB Eurozone Composite Purchasing Managers’ Index (PMI) rising slightly to 51.0 from July’s 50.9, according to Wednesday’s report.
While the reading represents a 12-month high, it still points to only gradual growth across the region. The PMI, compiled by S&P Global, remains just above the 50.0 level that separates expansion from contraction.
The modest uptick in the overall index came despite a slowdown in the services sector, which was offset by stronger manufacturing output. Additionally, the survey highlighted the first rise in total new orders since May 2024, suggesting a cautiously optimistic outlook for economic activity across the 20-country euro area.
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