- Rob Dobson, senior economist at Markit
Activity in the Eurozone's manufacturing sector shrank more than expected in August. The final PMI came in at 45.1, up from 44.0 in the preceding month. Any reading below 50 signals a contraction in manufacturing activity.
"Larger nations like France and Germany remain in reverse gear... the [manufacturing] sector is on course to act as a drag on gross domestic product in the third quarter," said Rob Dobson, senior economist at Markit.
"The national picture remains one of widespread contraction, only Ireland saw manufacturing output rise. The situation in Italy is also becoming more of a cause for concern, as it falls further down the PMI league table."
The Stoxx Europe 600 Index rose 0.63 per cent to 267.91. Germany's DAX Index added 0.46 per cent to 7,003.19 and France's CAC 40 Index gained 0.98 per cent to 3,446.67.
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