LONDON (Dow Jones) – Business activity in the private sector in the euro area has only slightly in August, lost momentum , but the upturn was only worn by Germany and France . ( Reuters photo 🙂
The purchasing managers index of manufacturing fell to 55.0 points a surprisingly strong 56.7 in the previous month , reaching its lowest level in six months, as the information provider Markit Economics reported on Monday in the wake of first publication. Economists have had a weaker decline to 56 Predicts two counters.
In the service sector also decreased the activity , but only slightly. The Purchasing Managers’ Index for the service sector fell to 55.6 points from 55.8 the previous month. Economists had expected a level of 55.5 points.
The aggregate composite index , based on the production index for the manufacturing sector and the index of the service sector went from 56.7 to 56.1 meters back in January. The index is still well above the threshold of 50 points , indicating an expansion of the sector. Stands at 50 points mean a contraction.
"The detailed results of the survey show that the upswing in even greater extent than previously by the robust economic growth of the two heavyweights Germany and France will be taken , " said Markit. " Thus, the divide within the euro area has continued to deepen . "
"In the foreground , however, excellent data puts huge bomb , "said Chris Williamson, chief economist at Markit . " The major concern is and remains that the recovery has, on charge of France and Germany, while the convergence of growth rates in the other euro -zone countries of stagnation. " In addition, there is currently no evidence "that jumps from the thriving core countries of a spark to the problem children in the periphery .
According to Postbank economist Thilo Heidrich development is largely expected. " Due to global bit slowdown in demand, should the mood in the manufacturing sector of Germany and the euro zone has reached its height . On the other hand , the indices for services for months at a high level or even improve steadily. interpret So far, all indexes on a sustained economic recovery point . "
For the industry gradually begin a new phase , analyzed Commerzbank expert Christoph Weil. Catching up after the massive fall should come to an end . Reason for exaggerated pessimism did not exist nevertheless . The buyers indices lie still on an above-average level. The national data also showed that the euro economy is deeply divided unchanged .
BNP -Paribas economist Ken Wattret is also assumed that the industry in the euro area will now lose momentum. Meanwhile , the services sector believe that it would be better than expected , but it is doubtful whether the sector could develop enough momentum to prevent a significant slowdown in growth in the euro area economy in the second half. " For, will produce the tightening fiscal policy a noticeable headwind , " The expert also pointed out.
DJG / apo / mle / voi