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Eurozone private sector expands in August
The private sector in the Eurozone maintained its growth pace in August, with the Purchasing Managers' Index remaining steady at 52.0 points. This level is above the 50-point threshold that separates expansion from contraction, as new orders and export requests continue to improve. Southern countries in the region, such as Spain and Italy, led the growth, while the French economy experienced its eighth consecutive month of contraction. Employment growth also reached an all-time high this year, with slight declines in input costs and rising prices, although they remain above pre-Middle East war levels. The data confirms that the European economy is on track to achieve strong growth in the third quarter of the year.
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