Qa'dah 8, 1435, Sep 3, 2014, SPA -- Euro zone business grew at the slowest rate this year in August as escalating tension between Russia and Ukraine subdued spending and investment, Reuters cited surveys as showing on Wednesday. Signs of slower growth, coupled with firms cutting prices at an even faster rate, will add to pressure on the European Central Bank ahead of its monetary policy meeting on Thursday. Markit's Composite Purchasing Managers' Index, which is based on surveys of thousands of companies across the region and is seen as a good gauge of growth, fell to an eight-month low of 52.5, well below July's 53.8. That final reading was also weaker than a preliminary estimate of 52.8, although it was the 14th month above the 50 line that denotes growth. Growth in Germany, Europe's powerhouse, eased to a 10-month low while in France, the bloc's second-biggest economy, activity declined for a fourth month. The composite output price PMI, which has been sub-50 since April 2012, fell to a three-month low of 48.9 from July's 49.0 as firms cut prices to drum up trade.
