Eurozone August final manufacturing PMI 52.7 vs 52.8 prelimPrior 51.9The final estimate reaffirms a solid showing in euro area industrial activity in August, with both factory output and new orders rising at their quickest rates since early-2022.The added good news is that inflation pressures also continued to ease, although rates of increase in both input costs andoutput prices were still above those seen immediately priorto the US-Iran conflict.The biggest positive swing to the overall report comes from Germany, which recordedits best month of manufacturing sector growth in over fouryears. So, that will come as a bit of a relief after the constant woes surrounding the industry in recent years.Besides that, business confidence strengthened again in August,signalling a fourth successive monthly rise in growth expectations for the coming 12 months. That as the overall level of optimism was also seen above itslong-term average.S&P Global notes that:"The August PMI report provided the clearest signs yetthat the eurozone's industrial economy has so far shakenoff both the oil price shock and supply-related disruptionscaused by the Middle East war. Stronger order bookgrowth, in part owing to a recovery in export demand,should give this expansion legs."Breaking the PMI data down by the three main industrialgroupings revealed the intermediate goods sub-sectoras the main contributor of manufacturing growth.This includes critical industries such as chemicals andmetals, as well as electrical equipment and electroniccomponents, suggesting the euro area can also be abeneficiary from the tech supercycle, even if it's arrivinglate to the party."A further softening of producer price increases, evenin the midst of sustained oil market volatility, helps toalleviate broader inflation worries. That said, the paceof disinflation is starting to level off and the PMI's pricemetrics remain well above their pre-war levels, which mayjust embolden a cautious stance by eurozone monetarypolicymakers." This article was written by Justin Low at investinglive.com.