Growth in the eurozone hit a two-month high during August, according to a survey of buyers.
The Markit Flash Eurozone Purchasing Managers’ Index, which is a composite of different sectors across countries, recorded 54.1 in August, up on the 53.9 registered in July and representing the 26th successive month of expansion.
Firms in the manufacturing and services industries reported output had risen in response to increased levels of incoming new work, which rose at the fastest rate since May.
Backlogs of work rose at the strongest pace in 51 months, while business optimism remained moderately positive despite slipping to an eight-month low.
Average input prices at eurozone companies rose for the seventh successive month while average output charges decreased.
Rob Dobson, senior economist at Markit, said: “The flash PMI suggests that the eurozone is still experiencing one of its best periods of economic growth and job creation during the past four years.
“On the price front, average selling prices are still holding broadly steady across the eurozone in August, while cost inflation was registered for the seventh successive month.”