The activity of the private sector in the eurozone remained at 52 points in August, reflecting sustained growth. Spain and Italy are leading this advance, while Germany shows modest improvements.
The private sector activity in the eurozone remained stable in August, with an index of 52 points, according to expansion.com. This figure, which represents a slight downgrade from the preliminary reading, indicates that growth is the fastest in the last eight months.
Employment also showed an increase for the first time this year, thanks to a rise in net sales. Inflationary pressures remained stable due to a slight reduction in input costs, although inflation remains high due to the war in Iran.
The report positions Spain and Italy as the main engines of growth in the eurozone, with a notable expansion in their economic activities. Despite improvements in Germany, they remain modest, and France has recorded its eighth consecutive contraction in commercial activity.
Chris Williamson, chief economist at S&P Global Market Intelligence, commented that “the August PMI index data places the eurozone on track for solid growth in the third quarter.”
The European Central Bank (ECB) will meet next week to discuss its monetary policy, and markets anticipate a possible rate hike in response to recent inflation data.
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