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Euro zone business boom roared on in August -PMI

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The euro zone's closely watched Composite Purchasing Managers' Index for August hit 59.5, slightly down on the month before, but still signifies expanding business activity

But Britain's post-lockdown economic bounce-back slowed sharply as companies struggled with unprecedented shortages of staff and materials, although strong inflation pressures cooled. NL8N2PR3H9

"Second, that materials and staff shortages might feed into second-round effects of rising wage growth, meaning that inflation is higher for longer." Demand slowed marginally from July - suggesting the rebound will continue - but the services business expectations index, which measure optimism about the year ahead, dropped to 68.6 from 69.1.

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