LONDON (Reuters) -Euro zone businesses saw new orders increase for the first time since May 2024 in August, helping overall activity expand at the fastest pace in 15 months despite persistent weakness in exports, a survey said on Thursday.

The HCOB Flash Eurozone Composite Purchasing Managers’ Index, compiled by S&P Global, rose to 51.1 in August from 50.9 in July, marking the third consecutive monthly improvement and the highest reading since May 2024. A Reuters poll had predicted a dip to 50.7.

PMI readings above 50.0 indicate growth in activity while those below point to a contraction.

“Things are getting better. Economic activity has picked up in both manufacturing and services. Overall, we’ve seen a slight acceleration in growth over the past three months,” said Cyrus de la Rubia,

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