Growth in the euro area private sector picked up but remained modest in August

Growth in the private sector of the euro area increased but remained modest in August, after the service sector was only partially able to offset the decline in manufacturing performance – according to the Purchasing Manager Index.

IHS Markit, a London-based financial and economic data provider, released its latest Purchasing Manager Index (PMI). It has increased to 51.9 points from the previous month’s 51.5 points – according to the press release published on Wednesday. Analysts expected 51.8 points, similar to the preliminary data. (MTI)