Eurozone PMIs continued to slide for the sixth month in a row to its lowest reading since July 2009. With a
preliminary release of 47.2, the survey marked it's second below-50 contractionary print in as many months. Both the Manufacturing and Services components registered declines with Markit commpenting that non-core (Germany & France) countries exerted disproportionate drag on the EZ-wide survey.
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| EZ Composite PMI |
While Industrial New Orders beat expectations of being flat on the month with a rise of 1.9% in August and an upward revision to -1.6% m/m (from -2.1% m/m), this indicator is very volatile and revision-prone, giving little info on 'trend growth.'
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