Eurozone Private Sector Growth Holds Steady Amid High Inflation
The eurozone's private sector growth has remained steady in August, according to the final reading of the S&P Global composite purchasing managers' index. The index, which combines both services and manufacturing industries, came in at 52.0, just 0.1 down from the initial estimate but in line with July's eight-month high.
The employment sector saw growth for the first time since 2026, while pricing pressures remained stable due to easing input cost pressures combined with steady output price inflation. However, inflation remains high by historical standards, trending above levels seen before the Middle East conflict broke out.
Joe Hayes, senior principal economist at S&P Global Market Intelligence, stated that August's data puts the eurozone 'on track for a solid quarter of growth in Q3'. He also mentioned that the disinflationary trend witnessed since the PMI prices indices peaked in May has stalled.