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The S&P Global Eurozone Services Purchasing Managers' Index (PMI) slipped to 51.6 in August from 51.7 in July, coming in slightly below the preliminary estimate of 51.7. Read more: US economic activity rises modestly, inflation pressures persist: Fed Beige Book The composite PMI, which combines services and manufacturing, stood at 52.0 in August, broadly in line with its long-term average of 52.3. A reading above 50 indicates expansion, suggesting the bloc's private sector continued to grow at a steady, though modest, pace. According to Reuters, the latest figures point to continued economic resilience in the third quarter, with manufacturing activity gaining momentum while the services sector recovered from weakness earlier in the year. New business in the services sector, a key measure of demand, increased solidly again in August. However, the rise was driven by domestic demand as new export orders declined. At the broader private-sector level, export orders increased for the first time in four-and-a-half years, supported by stronger demand for manufactured goods. Services employment also strengthened, growing at its fastest pace in eight months and extending a positive trend that began in June. Across the wider private sector, August marked the first month of net job creation this year. Price pressures remained elevated. Services input costs and output charges both rose to three-month highs during August. Across the composite index, input cost inflation edged down slightly, while the pace of output price growth was unchanged. Reuters reported that the latest price data indicated a pause in the euro zone's recent disinflationary trend. Inflationary pressures remained above historical norms and higher than levels recorded before the outbreak of the U.S.-Israeli conflict with Iran. Official data released earlier this week showed eurozone inflation had risen back above 3% in August, increasing pressure on the European Central Bank as policymakers prepare for their September 10 meeting. Growth remained uneven across the region. Spain and Italy led the expansion, while Germany recorded its fastest growth since March. France was the main exception, with private-sector activity contracting for an eighth consecutive month. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-09-04 02:54