European auto sector downturn eases in AugustChristian Fernsby ▼ | September 10, 2019
European Sector PMI indices are compiled from responses to IHS Markit's European PMI surveys, covering over 8,000 private sector companies in 11 countries.
Europe August data marked contrasting trends across many sectors
Topics: Europe auto downturn
August data marked contrasting trends across many sectors of the European economy.
Five manufacturing categories registered notable contractions in output, led by metals and mining and automobiles and auto parts.
That said, the latter recorded a weaker decline than in July, as did chemicals and industrial goods.
On the other hand, contractions accelerated in metals and mining, forestry and paper products and construction and engineering, while three sectors posted renewed falls in activity following growth in July.
Beverages and food, software and services and banks remained first, second and third in the sector output growth rankings in August, as was the case in July.
These three categories have also registered the strongest growth on average over 2019 so far.
At the broad level, technology and financials were the fastest-growing sectors in August, and also over the first eight months of 2019 on average.
At the other end of the scale, basic materials registered another sharp drop in output in August. ■