Eurozone Business Activity Continues to Boom in August

Monday’s survey showed that the strength of business activity in the eurozone continued this month, but down from the highest pace in two decades recorded in July, as the pace of vaccination campaigns allowed more companies to open their doors and customers venture out of their homes.

Activities could have expanded at a faster pace in the absence of the current disruption to supply chains, but fears of renewed isolation measures due to new strains of the Coronavirus continued to dampen optimism.

The Eurozone manufacturing sector activity expanded but at a weaker pace in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Monday.

The Eurozone Manufacturing purchasing managers index (PMI) arrived at 61.5 in August vs. 62.0 expectations and 62.8 last. The index was at its weakest in six months.