India, Sept. 1 -- The euro area manufacturing sector expanded at the strongest pace since 2022 in August, driven by robust production and new orders, final data from S&P Global showed on Tuesday.
The manufacturing Purchasing Managers' Index hit a 51-month high of 52.7 in August from 51.9 in July. The reading was slightly down from the flash estimate of 52.8.
"The August PMI report provided the clearest signs yet that the eurozone's industrial economy has so far shaken off both the oil price shock and supply-related disruptions caused by the Middle East war," S&P Global Market Intelligence Senior Principal Economist Joe Hayes said.
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