Euro zone factory growth slows in August amid Ukraine tension: PMI

Euro zone manufacturing growth slowed slightly more than initially thought last month as new orders dwindled and factories suffered amid rising tensions in Ukraine, a business survey showed on Monday. Factories barely increased prices last month, and manufacturing activity in France fell at the fastest pace in 15 months, in disappointing news for the European Central Bank before Thursday's monetary policy-setting meeting. Markit's final August manufacturing Purchasing Managers' Index came in at 50.7, the lowest in over a year and below both July's 51.8 and an earlier flash estimate of 50.8. "Although some growth is better than no growth at all, the braking effect of rising economic and geopolitical uncertainties on manufacturers is becoming more visible," said Rob Dobson, senior economist at Markit.

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