ING senior economist Bertcolijn says the Eurozone`s PMIs rose slightly in August from 51.5 to 51.8.
He said: "This slight increase in the index in August could be a small victory, at least indicating that the euro area economy will not grow negatively in the middle of the third quarter. The picture remains more or less unchanged, with slow growth thanks to a sluggish manufacturing sector and service sector strength that keeps the economy growing.
While the manufacturing sector continues to decline, it declined slightly, as production index rose from 46.9 to 47.8 in August. France is a positive exception that production is still booming, but overall production in the area is still weak and new orders continue to decline due to low demand from other countries.”