LONDON, Sept 1 (Reuters) - Growth in the euro zone’s manufacturing sector hit its fastest pace in more than four years in August, driven by the strongest rise in new orders since early 2022 and output expanding at a robust rate, a survey showed.

S&P Global’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) rose to 52.7 in August from 51.9 in July, its highest reading since May 2022 but just shy of a preliminary estimate of 52.8.

PMI readings above 50.0 indicate growth in activity.

"The August PMI report provided the clearest signs yet that the euro zone’s industrial economy has so far shaken off both the oil price shock and supply-related disruptions caused by the Middle East war. Stronger order book growth, in part owing to a recovery in export demand, should give this expansion legs," said Joe Hayes, senior principal economist at S&P Global Market Intelligence.

New orders grew at their sharpest pace since early 2022, with export orders rising for only the second time in 4-1/2 years, providing notable support. Overseas sales were particularly strong in Austria, Germany and the Netherlands.

Factory output growth accelerated, with the sub-index climbing to 53.3 in August from 52.9, a 54-month high. Intermediate goods such as chemicals, metals and electronic components were the biggest driver of production gains.

Germany posted its strongest factory growth in over four years while France also contributed to the overall expansion. However, Italy saw its first contraction since January and Spain was also in negative territory.

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