Markit eurozone manufacturing PMI ticks lower in August

Markit’s final eurozone manufacturing purchasing managers’ index came in at 51.7 in August, marking a three-month low.

This was down from the flash estimate of 51.8 and July’s reading of 52.0.

Still, the PMI has now signalled growth for 38 consecutive months, marking a continuation of its survey-record unbroken sequence above the 50.0 stagnation mark.

Chris Williamson, chief business economist at IHS Markit said: “Eurozone manufacturers reported a wavering performance in August, with signs that growth could slow further in coming months. The rate of expansion dipped to a three-month low but is at least holding up in the face of the uncertainty caused by the UK’s vote to leave the EU. The survey indicates that factory production is growing at a steady though unexciting annual rate of just under 2%.

“There is some suggestion of a Brexit impact, however, and growth may wane further in September after new orders growth slipped to a one-and-a-half year low.”