The Brexit impact may finally be hitting Europe's manufacturers

The eurozone's manufacturers are finally starting to feel the pinch from Britain's vote to leave the European Union, and are experiencing a "Brexit impact," according to the latest PMI data released by Markit on Thursday morning.

Markit's manufacturing PMI for the eurozone fell from 52 at the end of July to 51.7 in August, missing the earlier flash estimate of 51.8.

The purchasing managers index (PMI) figures from Markit are given as a number between 0 and 100.

Anything above 50 signals growth, while anything below means a contraction in activity - so the higher the better.

Within Europe, it was something of a mixed picture, with France and Italy both struggling. Italy, in particular took a hit, falling into contraction for the first time in 20 months. France remained in contraction in August, dropping from 48.5 to 48.3. On the positive side, Germany's manufacturing sector continued to grow strongly, while the Netherlands was also a bright spot.

Here are the breakout readings provided by Markit:

• Spain manufacturing - 51, previous 51
• Italy manufacturing - 49.8, previous 51.2
• France manufacturing - 48.3, previous 48.5
• Germany manufacturing - 53.6, previous 53.8
• Greece manufacturing - , previous 48.7

And here is the single currency area-wide chart:

Speaking about the results, IHS Markit's chief business economist Chris Williamson said (emphasis ours):

"The rate of expansion dipped to a three-month low but is at least holding up in the face of the uncertainty caused by the UK's vote to leave the EU. The survey indicates that factory production is growing at a steady though unexciting annual rate of just under 2%.

"There is some suggestion of a Brexit impact, however, and growth may wane further in September after new orders growth slipped to a one-and-a-half year low. Anecdotal evidence suggests that the strengthening of the euro and reduced sales to the UK were partly to blame for the order book slowdown."

"Once again, it's also a worryingly mixed picture across the region. Northern countries including Germany, the Netherlands and Austria are providing the main power to the expansion, but elsewhere the picture is looking more subdued. France and Italy are in decline, Greece is stagnating and both Spain and Ireland are enduring their worst growth spells since mid-2013."

At 9:30 a.m. BST (4:30 a.m. ET) Markit will release the second set of confirmed UK manufacturing data since the vote to leave the European Union, which could confirm the disastrous PMI's released at the beginning of August. July's PMIs suggested that British manufacturing, construction, and services are all heading for a recession.