Above preliminary reading (Il Sole 24 Ore Radiocor) - London, 02 Sep - In August, the eurozone's purchasing managers' index (PMI) for the manufacturing sector stood at 45.8, unchanged compared to July, according to final data released by S&P Global and Hamburg Commercial Bank.

The preliminary reading was 45.6.

The manufacturing output index was also at 45.8, up from 45.6 in the previous month, a two-month high.

The preliminary reading was 45.7.

A reading above 50 signals expanding sector activity and a reading below 50 a contraction.

"Things are going downhill, and fast. The manufacturing sector has been stuck in a rut, with business conditions worsening at the same solid pace for three straight months, pushing the recession to a gruelling 26 months and counting.

New orders, both domestic and international, are slowing down even more, dashing any short-term hopes for a rebound. Adding insult to injury, input prices have been creeping up again since June.

There is a silver lining insofar as companies managed to pass some of these higher costs onto their customers in August," said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.

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(RADIOCOR) 02-09-24 10:10:12 (0181) 5 NNNN