By Jason Douglas 

Economic activity was mixed in several major economies in August, according to a set of closely watched surveys, findings that will do little to ease concerns spreading through financial markets that a long global expansion could be coming to an end.

The faltering outlook for growth -- and what to do about it -- will be top of the agenda at a regular gathering of central bankers in Jackson Hole, Wyo., this weekend.

Preliminary purchasing managers surveys for Australia, Japan and the 19-nation eurozone published Thursday painted a picture of a global economy struggling to regain momentum after stumbling earlier this year amid growing tensions over trade.

Output in Australia shrank in August for the first time in five months, according to a survey by Commonwealth Bank of Australia and IHS Markit, led by a poor performance by the country's service sector.

The eurozone grew at a muted pace, as a pickup in France offset continued sluggishness in Germany, the currency zone's largest economy.

One bright spot was Japan, where activity expanded at the fastest pace in eight months, according to the surveys.

Warning signs pointing to a deepening global economic slowdown have been multiplying in recent weeks, raising the specter of a looming global recession.

Figures this month showed economic output in Germany contracted in the second quarter, while a report on factory output in China came in lower than expected. Stock and bond markets have been signaling that the threat of a downturn is spreading to the U.S., the world's largest economy, now in its longest expansion on record. A preliminary survey for the U.S. is due to be published later Thursday.

The Federal Reserve cut short-term interest rates in July, partly in response to slower global growth, and investors widely expect it to continue with rate reductions.

The minutes of officials' July meeting, released on Wednesday, showed policy makers believed uncertainty surrounding the Trump administration's trade policy wasn't likely to let up soon, creating a "persistent headwind" for the U.S. economic outlook.

Write to Jason Douglas at jason.douglas@wsj.com

(END) Dow Jones Newswires

August 22, 2019 05:46 ET (09:46 GMT)

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