The euro zone's closely watched Composite Purchasing Managers' Index for August hit 59.5, slightly down on the month before, but still signifies expanding business activity
But Britain's post-lockdown economic bounce-back slowed sharply as companies struggled with unprecedented shortages of staff and materials, although strong inflation pressures cooled. NL8N2PR3H9
"Second, that materials and staff shortages might feed into second-round effects of rising wage growth, meaning that inflation is higher for longer." Demand slowed marginally from July - suggesting the rebound will continue - but the services business expectations index, which measure optimism about the year ahead, dropped to 68.6 from 69.1.
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