Latest data released by Markit - 4 September 2019
- Prior 52.9
- Composite PMI 52.6 vs 52.0 expected
- Prior 51.7
A welcome beat in terms of euro area economic data with the composite reading moving off the lows seen in July. This should at least provide some relative comfort on economic developments in the region as the services sector continues to hold up decently in light of a downturn in the manufacturing sector.
That said, we'll have to see if the readings here are more consistent across the region in the coming months before jumping to any conclusions of a possible recovery.