Eurozone PMI Declines 7th Month; German Private Sector Output Falls at Faster Rate; New Business Declines 13th Month

"As easily predicted, at least in this corner, the Markit Flash Eurozone PMI® shows Downturn in Eurozone economy extends into seventh month.

Key Points

 •Flash Eurozone PMI Composite Output Index(1) at 46.6 (46.5 in July). Seventh straight contraction.

 •lash Eurozone Services PMI Activity Index(2) at 47.5 (47.9 in July). Two-month low.

 •Flash Eurozone Manufacturing PMI(3) at 45.3 (44.0 in July). Four-month high.

 •Flash Eurozone Manufacturing PMI Output Index(4) at 44.6 (43.4 in July). Two-month high.

The Markit Flash Eurozone PMI® Composite Output Index – based on around 85% of usual monthly replies – was broadly unchanged at 46.6 in August, from a final reading of 46.5 in July. The index has now signalled a contraction of the Eurozone private sector for seven successive months..."

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