Rising growth in the euro area in August, but economic challenges remain

In August, the euro area’s private sector grew at its fastest pace since May, helped mainly by a more dynamic recovery in the services sector.
This represents a run of six consecutive months of growth, the longest such streak in more than two years.
At the same time, surveys have highlighted the vulnerability of the euro area economy as new orders, employment and business confidence have fallen.
On the positive side, however, the August data showed a moderation in cost pressures, with input prices rising at their slowest pace so far in 2024, broadly in line with the pre-pandemic average.