Economic Buzz: Eurozone composite PMI at 9-month high in August

The euro area business activity continued to improve in August, with the composite Purchasing Managers' Index (PMI) advancing to 52.1 from June's 52, and hitting a nine-month high, according to a preliminary report published by S&P Global on Friday.

Meanwhile, the Services PMI Business Activity Index remained unchanged at 51.7. Manufacturing PMI Output Index rose from the previous month's 52.9 to 53.4 in August, hitting a 54-month high.

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