Economy Eurozone is losing momentum for Germany slowdown

The eurozone economy continued to expand at a generally stable pace in August. However, the rate of increase fell to a minimum of 19 months, especially because of a slower rate of expansion in Germany.

The final reading of the PMI services sector, prepared by Markit, fell to 52.8 points from 52.9 points in July and below the earlier flash estimate of 53.1.

The slowdown was due to Germany, where the growth of activities marked the weakest in more than three years. The PMI services, it slipped to a surprise to 51.7 points from 54.4 the previous points. France (52.3 from 50.5), Italy (52.3 to 52) and Spain (56 to 54.1) reported growth rates accelerated compared to July.

"The survey data support the idea that the ECB has no intention of waiting to provide additional economic stimulus. This goes even more responsible financial policies to act on the end of the week, thus giving support to the confidence both future prospects of the economy is on the bank's ability to maintain its inflation target, "said Chris Williamson, Chief Economist at Markit Business.