September business activity within the Eurozone hit monthly lows, according to PMI press release. Rising COVID-19 infections contributed to the downturn – HIS Markit’s chief business economist Chris Williamson. Divergent trends noted by sector and country. Germany led growth in manufacturing but offset by low service sector performance. France’s business activity deteriorated as declining service sector output offset a steady increase in factory production. Elsewhere, contraction of services sector was accompanied by slow manufacturing growth.
- Eurozone Flash PMI Composite Output Index on a 3-month low at 50.1, a fall from August’s 51.9
- Eurozone’s Flash Services PMI Activity Index on a 4-month low at 47.6, a fall from August’s 50.5
- Eurozone’s Flash Manufacturing PMI Output Index on a 31-month high at 56.8 from 55.6 in August
- Eurozone’s Flash Manufacturing PMI on a 25-month high at 53.7 from 51.7 in August
- Net job losses experienced, though payroll cuts reduced as economic optimism in the coming 12 months rise
- Price pressures moderated in September
- Production growth maintained by rising demand, especially in export markets
The Euro is flat to the Dollar despite mixed PMI data, as economic optimism rises. EURUSD is +0.02%
