Pursuits
European August Services, Manufacturing Growth Eases
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Growth in Europe’s services and manufacturing industries weakened and retail sales rose less than economists forecast, adding to signs the region’s export- led recovery is losing momentum.
A composite index based on a survey of euro-area purchasing managers in both industries declined to 56.2 in August from 56.7 in July, London-based Markit Economics said today. That’s above an initial estimate of 56.1 published on Aug. 23. The gauge for services increased. A separate report showed retail sales rose 0.1 percent in July, less than the 0.2 percent median forecast of 20 economists in a Bloomberg News survey.