The eurozone economy maintained growth momentum during August, according to PMI survey data, with output across the currency area rising at a broadly similar pace to July.

The expansion was supported by a strong rise in manufacturing production, while services business activity increased at a weaker pace. The headline IHS Markit Eurozone PMI posted 55.8 in August, up fractionally from July's reading of 55.7, according to the preliminary 'flash' estimate (based on approximately 85% of final replies).

The index again signalled strong growth of the euro area private sector, with the rate of expansion remaining around the best seen over the past six years. The manufacturing sector performed strongly, with both output and new orders rising at sharper rates in August. The latter was boosted by the fastest rise in exports for six-and-a-half years. The service sector, on the other hand, saw growth of activity ease to a seven-month low. That said, the rate of expansion remained solid amid a further increase in new orders.