Agency comments on Eurozone PMI data: Eurozone eco

Aihucha News, September 5: Data show that in August, the euro zone’s economic output fell at the fastest rate in the past three years, with the manufacturing and service industries generally declining, with the latter shrinking for the first time so far in 2023. New orders also saw their biggest drop since late 2020, leading companies to complete unfinished work at the fastest pace in more than three years. Employment growth has nearly stalled and the latest price data are also worrying as input price inflation accelerated during the month for the first time since September 2022. Average price increases for goods and services were the weakest in two and a half years but remained stronger than the long-term trend. The latest data also marked the third consecutive month of contraction in output and, excluding the pandemic, the largest decline in economic activity since March 2013 during the sovereign debt crisis.