The PMI, which is compiled by HIS Markit and CIPS, recorded a decline in the services sector in the euro area to its lowest level in two months by 59.7 in August, compared to 59.8 in the July reading, which came better than the expectations of 59.6, in return, a decline Manufacturing index to 61.5, the lowest level in six months, compared to 62.8 in the July reading (expectations at 62).

Despite the slowdown in the services and manufacturing sectors, business activity in the Eurozone continues to record the strongest growth levels in two years, ignoring growth concerns about the delta variable.

In the details of the euro zone countries, the manufacturing index in France declined to 57.3 from 58 (expectations 57.1), while the services index recorded a growth of 56.4 compared to 56.8 (expectations 56.2). The service index of the strongest economy in the euro area (the German economy) recorded a growth of about 61.5, better than expectations that indicated a growth of 61, so that the July reading was revised to 61.8, while the manufacturing index declined to 62.7 from 65.9 (expectations 65.1).

On the other hand, the service sector in the United Kingdom recorded a decline in AGSEX to its lowest level in six months, by 55.5, below expectations that indicated a growth of about 59, to be revised to the July reading to 59.6, on the other hand, the manufacturing index came better than expectations at 60.1 compared to 60.4 in the July reading (Forecast at 59.5).

The euro against the dollar has been trading on the rise since the beginning of the weekly session today, Monday, at 1.1730 levels, while the pound sterling has risen by more than 40 points, trading at 1.3655 levels.