Euro Area composite PMI rises to 51.1 in August, beating expectations

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Composite PMI in the Euro Area increased to a 15-month high of of 51.10 points in August from 50.90 points in July, beating consensus.

Manufacturing PMI in the Euro Area increased to 50.50 points in August from 49.80 points in July.

HCOB flash Eurozone services PMI business activity index at 50.7 from 51.0 in July, a 2-month low.

New orders returned to growth in August, thereby ending a 14-month sequence of decline. New business increased slightly, renewed expansions seen in both the manufacturing and services sectors.

Business confidence waned for the second consecutive month in August. Sentiment dropped to a four-month low and was weaker than the series average.

Confidence dipped in both monitored sectors and across Germany, France, and the rest of the Eurozone alike. In fact, French firms expressed a pessimistic outlook for output for the first time in nine months.

ETFs: (NYSEARCA:EWG [https://seekingalpha.com/symbol/EWG]), (NYSE:GF [https://seekingalpha.com/symbol/GF]), (NYSEARCA:EWI [https://seekingalpha.com/symbol/EWI]), (NYSEARCA:EWQ [https://seekingalpha.com/symbol/EWQ]), (NASDAQ:FGM [https://seekingalpha.com/symbol/FGM]), (DAX [https://seekingalpha.com/symbol/DAX])

Currency: (EUR:USD [https://seekingalpha.com/symbol/EUR:USD])

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