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Eurozone Manufacturing PMI At 26-Month High Of 51.7

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Hira Shahnawaz Akhtar
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Eurozone manufacturing PMI was estimated at 51.7 for the month of August 2013 by HSBC, which was at the highest level in the last 26 months. The PMI rose for the fifth successive month, up from 50.5 in July to 51.7 in August 2013.

Figure 1: Markit (Flash) Eurozone PMI and GDP

Eurozone PMI Output
Source: Markit Economics

Eurozone Manufacturing PMI

According to the press release by Markit, "both manufacturing and services reported higher output in August, with goods producers reporting the larger increase." New orders increased marginally in August while the composites for both goods and services increased...

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Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.