Eurozone manufacturing PMI fell to 6-month low in August

By Tuba Sahin

ANKARA (AA) – The Eurozone purchasing managers' index (PMI) for the manufacturing sector slipped to a six-month low in August but well above the historical average, a London-based global data company revealed on Wednesday.

August's reading of 61.4 was down from 62.8 in July, a second successive month in which growth has slowed in the sector, the IHS Markit said in a report.

Growth at investment goods makers continued to lead over consumer goods and intermediate goods producers, it noted.

Eurozone manufacturers continued seeing rise in goods production in August with total new orders increasing for a 14th straight month.

New export business increased but overall rate of growth in export demand across the eurozone lost momentum in the month.

Commenting on the data, Chris Williamson, chief business economist at IHS Markit, said: "The overriding issue was again a lack of components, however, with suppliers either unable to produce enough parts or are facing a lack of shipping capacity to meet logistics demand."

In eurozone, the Netherlands saw the strongest improvement in manufacturing business conditions, despite growth slowing to a five-month low.

Germany, Ireland, Austria, and France posted softer expansions in the month while Greece registered the highest reading in its manufacturing PMI since April 2000.