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Investing.com -- The euro zone economy continued its slow expansion in August, with the HCOB Eurozone Composite Purchasing Managers’ Index (PMI) edging up to 51.0 from 50.9 in July, according to a survey released Wednesday.
The August reading marked a 12-month high but still indicated only modest growth in the region’s economic activity.
The PMI index, compiled by S&P Global, remained just above the 50.0 threshold that separates growth from contraction.
The slight improvement in the overall index came despite a weakening in services sector growth, which was offset by better performance in manufacturing output.
The survey also revealed the first increase in overall new orders since May 2024, a potentially positive sign for future economic activity in the 20-country currency bloc.
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