The IHS Markit Eurozone Manufacturing PMI edged down to 61.5 in August of 2021 from 62.8 in July, and compared to market forecasts of 62, preliminary estimates showed. The reading pointed to the slowest growth in factory activity in 6 months, although it remained a robust one. Manufacturing output also continued to grow at a pace rarely exceeded in the survey history as a result of the ongoing recovery of demand from the depths of the pandemic, though the rate of expansion moderated for a second month to the weakest since February. Slower production growth was primarily linked to supply chain constraints. Meanwhile, job creation slowed slightly, in part reflecting labour shortages and backlogs again grew especially sharply. On the price front, input inflation eased to a 3-month low but selling prices increased rapidly.
The IHS Markit Eurozone Composite PMI was down to 59.5 in August 2021, from July’s 15-year high of 60.2 and slightly below market expectations of 59.7, a preliminary estimate showed. The latest reading pointed to a continued solid expansion in the bloc’s business activity, with service sector growth exceeding that of manufacturing for the first time since the pandemic, buoyed by the further reopening of the economy.
The IHS Markit Eurozone Services PMI stood at 59.7 in August 2021, little-changed from the previous month’s 15-year high of 59.8 and compared with market expectations of 59.8, a preliminary estimate showed. Output and new order growth rates cooled from recent peaks as some firms came under pressure from the recent rise in COVID-19 cases, while jobs growth reached the highest since September 2018