LONDON (Bloomberg) — Euro-area manufacturing and services activity slowed in August, signaling that the economy of the 18-nation region remains vulnerable to weak inflation and rising tensions with Russia. A Purchasing Managers Index for both industries fell to 52.8 from 53.8 in July, London-based Markit Economics said today. A reading exceeding 50 indicates expansion.
While the gauge has signaled growth for more than a year, economic expansion in the euro area unexpectedly halted in the second quarter amid weakness in the region’s three largest economies. With inflation below 1 percent since October, unemployment near record highs and rising political tensions, the European Central Bank unveiled a stimulus package in June that policy makers say will take months to show results.
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EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
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