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Home/Financial Market News & Analysis/Eurozone upturn regains momentum in September

Eurozone upturn regains momentum in September

Key findings:
  • Flash Eurozone PMI Composite Output Index(1) at 56.7 (55.7 in August). 4-month high.
  • Flash Eurozone Services PMI Activity Index(2)at 55.6 (54.7 in August). 4-month high.
  • Flash Eurozone Manufacturing PMI Output Index(4) at 59.5 (58.3 in August). 77-month high.
  • Flash Eurozone Manufacturing PMI (3) at 58.2(57.4 in August). 79-month high.

The eurozone economy ended the third quarter on a strong note, with growth of business activity picking up to its highest since May to register one of the strongest gains seen over the past six years.

The headline IHS Markit Eurozone PMI rose to 56.7 in September, according to the preliminary ‘flash’ estimate (based on approximately 85% of final replies), up from 55.7 in August.

Inflows of new orders showed the largest monthly increase since April 2011, representing a renewed surge in demand after the pace of new order growth had slowed in the prior two months.

Growth accelerated in both manufacturing and services, albeit with the former continuing to lead the expansion. While service sector activity showed the largest rise since May, the increase in manufacturing output was the greatest since April 2011. The outperformance of manufacturing relative to services also increased to the widest since January 2014.

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The goods-producing sector was again buoyed by rising exports, the rate of growth of which dipped slightly – linked to the recent appreciation of the euro – though remained slightly above the average seen so far this year.

Read the full IHS market sensitive news release HERE, includes:

  • PMI & GDP
  • Prices
  • Investment capacity
  • Comment
  • Charts & more…

Source: IHS Markit
https://www.markiteconomics.com/Survey/PressRelease.mvc/1f59a8757d5e43f993a93c1afe879a37

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By | 2017-09-22T10:57:52+00:00 September 22nd, 2017|Financial Market News & Analysis|0 Comments