Economic confidence in the 16 member euro area rose to its highest level since March 2008 for the month of August as figures rose to 101.8 from 101.1 the month prior.

Euro-zone PMI manufacturing for the month of August slowed to 55.0 from 56.7 the month prior amid economists’ expectations of 56.1, while the services index cooled to 55.6 from 55.8 in July, Markit Economics said today.