Uptick In Eurozone Economic Activity Fails to Dispel German Gloom

A small uptick in private sector activity in the eurozone in August was not enough to dispel fears of lacklustre growth in the third quarter as Germany’s export-led factory sector continued to suffer from global trade tensions and weakening growth, the Financial Times reported. A closely watched survey of executives found that the small pick-up in eurozone activity was the result of the resilience of the services sector in both France and Germany, which helped offset the woes of the German manufacturing sector. The IHS Markit purchasing managers’ composite index for the eurozone rose marginally to 51.8 in August, from 51.5 in July. Economists polled by Reuters had expected a decline to 51.2. A reading of more than 50 means that more executives reported the sector was expanding than those who said it was contracting. Read more