BofA warns Fed risks policy mistake with early rate cuts
Investing.com -- Euro zone business activity expanded at the fastest pace in 15 months in August, with new orders increasing for the first time since May 2024, according to survey data released Thursday.
The HCOB Flash Eurozone Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 51.1 in August from 50.9 in July. This marked the third consecutive monthly improvement and exceeded economists’ expectations of a decline to 50.7 in a Reuters poll.
A PMI reading above 50.0 indicates growth in activity, while a reading below that threshold signals contraction.
The August data showed new orders increased for the first time in three months, helping to drive the overall improvement in business conditions across the euro zone, despite ongoing weakness in exports.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.