The purchasing managers’ index, a broad gauge of economic activity, for the eurozone was unchanged at 55.7 points in August. Though output growth in the third quarter is slightly down on the second quarter, the firm said the single-currency bloc is on course for economic growth of 2.1 per cent this year, its highest since 2007, when the global financial crisis started to bite. While that will be determined in the longer term, for now it’s clear that Britain’s economy is starting to suffer from the Brexit vote. In a separate survey, IHS Markit said the British economy appears increasingly sluggish as the uncertainty over the EU exit mounts. It said the pace of growth in the services sector, which accounts for around 80 per cent of the British economy, eased to its slowest level since September last year.

Source: thestar September 05, 2017 18:56 UTC