Manufacturing slows in most of Europe and Asia

Data on Monday showed that manufacturing activity continued to expand in Europe and Asia in August but mostly at a slower pace.

In the euro area, Markit's manufacturing PMI fell to 50.7 in August from 51.8 in July.

In the UK, the Markit/CIPS manufacturing PMI fell to 52.5 in August from 54.8 in July.

Another report from the UK on Monday showed that mortgage approvals fell slightly in July

In China, the official manufacturing PMI fell to 51.1 in August from 51.7 in July while the HSBC PMI fell to 50.2 from 51.7.

Japan was an exception among the major economies reporting manufacturing data on Monday. The Markit/JMMA manufacturing PMI rose to 52.2 in August from 50.5 in July.

However, another report from Japan on Monday showed that capital spending fell 1.8 percent in the second quarter.