Manufacturing throughout the eurozone has continued its recovery this month but the rate of growth is currently at its lowest since the beginning of the year, according to the latest data from business analysts Markit.
Markit’s Purchasing Manager’s Managers Index for euro area manufacturers fell to a level of 55.0 from 56.7 in July. Anything above 50 signals growth.
The pace of new order growth was the weakest in 2010 so far. Factory gate inflation was at a five month low and purchases prices fell to levels last witnessed in January.
There was a modest rise in employment, broadly in line with July’s twenty-six month peak.
Chris Williamson, chief economist at Markit, said: “…the stimulus to the recovery from global trade is waning as economic growth slows in important trading partners around the world.
“This could therefore lead to slower growth in the Eurozone’s core in coming months.”