Euro zone growth slows to weakest in 19 months before ECB meeting
New report shows the drop was largely due to a weaker rate of expansion in Germany
Theeuro zone economy lost momentum in August, with a gauge of private-sector growth falling to the lowest level since early 2015.
A purchasing managers' index for manufacturing and services slid to 52.9 from 53.2 in July, below an earlier estimate of 53.3, IHS Markit said. The drop was largely due to a weaker rate of expansion in Germany, the region’s largest economy, the London-based company said.
The report comes just days beforethe European Central Bank holds its first policy meeting after the summer break. Economists predict officials will eventually be forced to add stimulus to sustain the recovery and raise inflation, even though they’re divided over when more measures will be announced.
