Euro Area Composite Output Index Slips to 56.2 in September as Growth Softens

Euro Area Composite Output Index Slips to 56.2 in September as Growth Softens

(IHS Markit) Eurozone Composite Output Index was 56.2 in September, a further fall from 59.0 in August and a 15-year record high in July.

Eurozone Composite PMI Output Index

At an output index of 56.2, the Eurozone growth is now at the lowest since April as activity was constrained by supply issues and demand pressures.

Services Business Activity Index fell to 56.4, down from a final reading of 59.0 in August, with the demand rising for the fifth consecutive month.

Ireland posted the fastest rate of expansion, while France and Germany recorded the softest growth. 

Input costs rose at the joint-fastest rate on record since July 1998, while output prices rose at a rate only below those witnessed in June and July. Expansion in new orders and employment softened.

Service providers were optimistic of activity over the next 12 months as the economies continued to recover from the pandemic.

EURUSD is down -0.17%, DAX is up +0.21%.

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