LONDON (Reuters) - The downturn in euro zone manufacturing eased last month, suggesting the worst may be over for the bloc's beleaguered factories ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSLONDON - The downturn in euro zone manufacturing eased last month, suggesting the worst may be over for the bloc's beleaguered factories although demand weakened to its lowest in almost a year, a survey showed on Friday.
HCOB's final euro zone manufacturing Purchasing Managers' Index , compiled by S&P Global, rose to a three-month high of 43.5 in August from July's 42.7, albeit below a preliminary reading of 43.7. A reading below 50 marks a contraction in activity. "These numbers aren't as terrible as they might look at first glance," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
However, the new orders index nudged down to 39.0 from 39.1, the second-lowest reading since the COVID pandemic was cementing its grip on the world.
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