Data released at the beginning of the European session today, Thursday, August 21, showed divergent trends in most of the services and manufacturing Purchasing Managers’ Indices (PMIs) in the Eurozone and the United Kingdom in the preliminary reading for August. The Eurozone services index slowed to a two-month low of 50.7 in August, compared to 51.0 points in the August reading (expected 50.8). Meanwhile, the manufacturing index rose to a 37-month high of 50.5, up from 49.8 in July (expected 49.5).

In detail, the French services PMI rose to 49.7 in August, compared to 48.5 in July, marking its highest reading in 12 months (expected 48.5). Meanwhile, the manufacturing PMI rose to 49.9 in July, its highest reading in 31 months, compared to 48.2 in July (expected 48.2).

In Germany, the services PMI slowed to a two-month low of 50.1 in August, compared to 50.6 in July, falling short of expectations for growth of 50.4. The manufacturing PMI also rose to 49.9, compared to 49.1 in July, its highest reading in 38 months (expected 48.8).

Meanwhile, data from the UK was mixed, with the manufacturing index falling below expectations in August at 47.3, recording its lowest level in three months compared to July’s reading of 48.0. Meanwhile, the services index rose to its highest level in 12 months at 53.6, compared to August’s revised reading of 51.8, which was higher than expected (51.8).