8月份歐元區PMI指數穩中有升，第三季強勁
最新的調查數據顯示，夏季幾個月來，歐元區的經濟增長僅僅從春季的快速增長緩和。
經濟自2007年以來最好的一年
標準IHS Markit Eurozone PMI在8月份穩定在55.7點，低於第二季度的56.6，平均水平位居另一個強勁的國內生產總值。到目前為止，在第三季度，PMI在歷史上處於0.6％的增長水平（調查顯示，第二季度為0.7％，略高於目前官方估計的0.6％）。
由於8月份持續強勁增長，該地區在2017年將實現GDP增長2.1％，這是2007年以來最好的表現。
儘管8月服務業增長放緩至1月份以來的最低點，但製造業增長回升至過去六年來最快。
這項調查也為當前增長突飛猛進的樂觀態度提供了充分理由。雖然新訂單流入和未來預期等前瞻性指標下滑至今年年初的水平，但這些指數仍然保持足夠的提升，表明未來幾個月的增長潛在增長放緩將不大。
勞動力市場更強
8月PMI採購業績結果也顯示，就業增長同樣下降，但仍然是過去十年來最好的增長之一，表明歐元區失業率將繼續下滑，有助於支持消費者的信心和支出。
上漲的價格壓力
調查數據還突顯了價格壓力與經濟強勁增長同時走高。產出和投入成本的增長率均達到三個月來的最高點，雖然仍然低於今年早些時候的高點
持續的強勁擴張和價格上漲的壓力將增加人們的看法，即如果條件保持支持，歐洲央行即將公佈其打算在2018年減少刺激措施，最有可能在10月的政策會議上。
四大國家的基礎性增長
按國家分列，所有四大歐元區國家的擴張幅度相似，但8月份德國錄得較快增長。法國和西班牙出現七個月低點。德國，法國和意大利的第三季度國內生產總值增長率約為0.4-5％，而西班牙的PMI則在歷史上與0.7-8％的增長率持平。
Eurozone PMI signals steady growth in August, boding well for robust third quarter
The latest survey data reveal how the summer months have seen eurozone economic growth moderate only slightly from the rapid pace seen in the spring.
Economy on course for best year since 2007
The headline IHS Markit Eurozone PMI held steady at 55.7 in August, down from an average of 56.6 in the second quarter but setting the scene for another strong GDP number. So far in the third quarter, the PMI is running at a level historically consistent with 0.6% growth (the surveys had indicated 0.7% in the second quarter, slightly above the current official estimate of 0.6%).
With such robust growth being sustained into August, the region is on course to see GDP rise by 2.1% in 2017, which would represent the best performance since 2007.
Although service sector growth eased in August to the lowest since January, manufacturing growth revived to one of the fastest seen over the past six years.
The survey also provided good reason to be optimistic that the current growth spurt has further to run. Although forward-looking indicators such as new order inflows and future expectations dipped to levels seen back at the turn of the year, these indices remain sufficiently elevated to suggest that any potential slowdown in growth in coming months will be only very modest.
Stronger labour market
The August PMI results also showed that employment growth has likewise cooled but remains among the best seen over the past decade, suggesting eurozone unemployment will continue to edge lower, helping support consumer confidence and spending.
Eurozone employment
Sources: IHS Markit, Eurostat.
Upturn in price pressures
The survey data also highlight how price pressures have meanwhile edged higher alongside the strong economic upturn. Rates of increase in output charges and input costs both hit three-month highs, albeit remaining below peaks seen earlier in the year
The sustained strong expansion and renewed upward price pressures will add to the perception that the ECB will soon announce its intention to taper its stimulus in 2018 if conditions remain supportive, most likely at its October policy meeting.
Broad-based growth in big-four nations
By country, similar robust rates of expansion were seen in all big-four euro nations, albeit with only Germany recording faster growth in August. Seven month lows were seen in France and Spain. Third quarter GDP growth of approximately 0.4-5% is being signaled for Germany, France and Italy, while Spain’s PMI is running at a level historically consistent with growth of 0.7-8%.
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