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'Companies remain cautious' as eurozone flash PMI eases to two-month low

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IHS Markit flash eurozone composite PMI drops to two-month low

The IHS Markit flash eurozone composite purchasing managers index slipped to a two-month low of 51.6 in August from 54.9 in July. The number, while pointing to improving conditions as it's above 50, nonetheless came in below economist expectations for a 55.3 reading.

"Companies remain cautious when making decisions on employment, again opting to lower staffing levels in August amid a lack of confidence in the strength of the recovery," said Andrew Harker, economics director at IHS Markit. The euro EURUSD, -0.31% slipped 0.2% to $1.1834.

 

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