Rob Dobson, head of S&P Global Market Intelligence, commented on the UK manufacturing PMI in August: The positive side of the economic downturn is that input costs are currently falling at the fastest rate since January 2016, and inflationary supply chain problems are easing, which should have Help reduce commodity price inflation in the coming months. As a result, the survey data suggest policymakers will increasingly focus on concerns about the health of the economy as they consider the need for further rate hikes.

Russian Foreign Minister Lavrov: An online meeting involving United Nations members was held in August.

Russian Foreign Minister Lavrov: I told the Secretary-General of the United Nations that an online meeting on Ukrainian President Zelensky’s peace plan is unacceptable.

French Minister of EU Affairs: The EU is taking rapid action to protect businesses and consumers.

Chevron Australia and the union will hold mediated talks next week, sources said.

London Metal Exchange (LME): Aluminum inventories decreased by 7,350 tons, copper inventories increased by 1,375 tons, nickel inventories decreased by 24 tons, lead inventories decreased by 250 tons, tin inventories were flat, and zinc inventories decreased by 400 tons.

The final value of Italy’s second-quarter GDP annual rate was 0.4%, expected to be 0.60%, and the previous value to be 0.60%.

[German manufacturing PMI is still sluggish, firmly in the contraction range below 50] S&P Global Comments on the final value of German manufacturing PMI in August: The downturn in German manufacturing continued into August. The decline in output has accelerated. Commodity producers remain pessimistic about the outlook for the year ahead, although slightly less pessimistic than in July. At the same time, weaker demand across the industry has led to lower input costs and factory-gate prices, albeit at a slower pace than in July. The HCOB German Manufacturing PMI recorded 39.1 in August, close to July’s 38.8. While the index rose slightly, thanks almost entirely to a component of supplier delivery times, it hit its second-lowest level since May 2020 and remained firmly in contraction territory below 50.

A draft EU document shows that EU countries will seek to reach an agreement on the phase-out of fossil fuels at the 28th Climate Summit.

S&P Global commented on the final value of French manufacturing PMI in August: Behind the downturn in French manufacturing is a further sharp decline in new orders. Survey data for August showed an accelerated decline in demand for goods, with a considerable drag also coming from customers outside France. Sluggish market conditions, delayed orders and weakening customer demand have contributed to the latest round of shrinking sales.

Japan Meteorological Agency: Average temperatures from June to August are the hottest on record.

According to TASS news agency: Two Armenian soldiers were killed and one was injured in Azerbaijani shelling.

Ukrainian President Volodymyr Zelensky: Without Crimea, Donbass and other occupied territories, Ukraine cannot achieve sustainable peace.

ECB Governing Council member Villeroy: We must and will reduce inflation to 2%.