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European economy sees slight recovery from trade tensions in August, PMI data shows

August 22, 2019


The European economy saw a slight recovery in August from weak demand caused by trade tensions, according to data released Thursday.

IHS Markit said the flash manufacturing purchasing managers index in the eurozone rose to a two-month high of 47 in August from 46.5, a figure still below the 50-level indicating worsening conditions.

Economists polled by FactSet had expected a 46.3 reading.

Meanwhile, the flash services purchasing managers index rose to a two-month high of 53.4 from 53.2, which was slightly ahead of the 53 economist forecast.

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