Manufacturing activity in the eurozone contracted in August, sending the Markit Purchasing Manufacturers' Index to a two-year low, data indicated, according to UPI. Data released Thursday showed the final August PMI dropped to 49.0 percent from 50.4 percent in July and was below the preliminary estimate of 49.7 percent, MarketWatch.com reported. PMI reports from Germany, Netherlands and Austria remained above the 50.0 level, while data signaled contractions for Ireland, France, Italy, Spain and Greece. The PMI is a gauge of manufacturing growth. A reading below 50 percent indicates contraction from the prior month and a reading above 50 percent indicates expansion.
