India, Sept. 1 -- The euro area manufacturing activity grew at the fastest pace in more than three years in August driven by a sharp rise in output and the renewed uptick in domestic demand, data published by S&P Global showed on Monday.
The HCOB final manufacturing Purchasing Managers' Index improved to 50.7 in August from 49.8 in July. This was the first expansion in the currency bloc since June 2022. The flash score was 50.5.
Driven by the rise in demand, production expanded the most since March 2022. At the same time, total new orders increased for the first time in nearly three-and-a-half years.
Despite increased new order intakes, operating capacities were not placed under greater strain. Backlogs of work continued to decrease in A...