Eurozone composite PMI points to steady private sector growth.
Private sector activity across the eurozone expanded more or less as expected in August, according to the final reading of the S&P Global composite purchasing managers' index on Thursday, with solid growth across both the services and manufacturing industries.
Source: Sharecast
The final estimate of the composite PMI was revised to 52.0, just 0.1 down from the initial estimate released two weeks ago but in line with July's eight-month high.
Employment increased for the first time in 2026, while pricing pressures remained stable, with easing input cost pressures combined with steady output price inflation.
Inflation, however, "remained high by historical standards", S&P Global said, trending above levels seen before the Middle East conflict broke out, while the disinflationary trends recorded since price pressures peaked in May have now stalled.
The final reading of the services PMI was revised down 0.1 points to 51.6 from the initial estimate – and July's level – of 51.7, while the manufacturing PMI came in at 52.7 from 51.9 previously.
Joe Hayes, the senior principal economist at S&P Global Market Intelligence, said August's data puts the eurozone "on track for a solid quarter of growth in Q3".
"It's noteworthy that the August data indicated a stalling of the disinflationary trend witnessed since the PMI prices indices peaked in May. Taken alongside the resilience in economic activity as illustrated by the latest figures, the European Central Bank may feel a tightening of policy at next week's meeting is now justified."
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
