EURO ZONE manufacturing contracted for the 13th consecutive month
in August, as exports in Germany, the bloc’s main engine of growth, fell at the steepest rate in three years
, according to a purchasing managers’ index.The Markit manufacturing PMI for the 17-country euro bloc was revised to 45.1 from the initially estimated 45.3. Although above July’s 37-month low of 44, it still remained significantly below the 50 mark which indicates a contraction.
The figures contrasted with more encouraging manufacturing numbers from Britain, also released yesterday, which showed a bounce to 49.5 from 45.2 in July.