Euro-Zone PMI Hints at Recovery; Germany, France Post Growth in Private-Sector Output

The euro zone's private-sector output stabilized in August, marking the end of 14 months of contraction, with support from the 1st rise in mfg. output since May last year, data from Markit Economics shows. The flash reading of the euro-zone composite purchasing managers' index, closely watched gauge of private-sector activity, rose to a 15-month high of 50 in August from 47 in July, after the biggest monthly increase on record, it said. The data indicate euro zone's private sector is on the cusp of growth -- a reading below 50 indicates output is contracting while a reading over 50 indicates it