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Tuesday's disappointing readings come almost half a year after
the ECB began pumping 60 billion euros a month of fresh
cash into the economy and a day after official data showed
inflation in the 19-country bloc at just 0.2 percent.
With inflation so far below the ECB's 2 percent target ceiling
there is a growing chance the ECB will have to extend
its stimulus program beyond the planned completion in September
2016.
Markit's final manufacturing Purchasing Managers' Index was 52.3
last month, below an earlier flash reading that suggested it had
held steady at July's 52.4. It has, however, been above the 50
mark that separates growth from contraction for over two years.
An index measuring output that feeds into a composite PMI, due
on Thursday and seen as a good guide to growth, rose to 53.9
from 53.6, above the preliminary 53.8 reading.
"By nation, the Netherlands, Italy and Ireland remained the most
impressive performers," said Rob Dobson, senior economist at
Markit.
"Although there were signs of manufacturing growth cooling in
these countries, this was largely offset by a solid acceleration
in Germany, suggesting that the region's industrial powerhouse
is taking on more of the growth strain."
An earlier PMI from Germany, Europe's largest economy, jumped to
53.3 from July's 51.8.
The sub-index covering output prices in the euro zone nudged up
to 50.5 from 50.4, below the flash 50.7.
(Reporting by Jonathan Cable; Editing by Toby Chopra)
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