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Eurozone private sector growth improves in September

Staff Writer |
The euro area private sector ended the third quarter strongly as output growth accelerated to a four-month high, underpinned by new orders in September, final data from IHS Markit showed.

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The composite output index rose to 56.7 in September from 55.7 a month ago.

The score matched the preliminary estimate.

The score has signaled expansion throughout the past 51 months in September.

The final services Purchasing Managers' Index climbed to 55.8 from 54.7 in the previous month.

The flash reading was 55.6.

The final September PMI numbers round off an impressive third quarter for which the surveys point to GDP rising 0.7%, Chris Williamson, chief business economist at IHS Markit said.

Germany rose back to the top of the PMI Output Index rankings in September, IHS Markit said. Germany's private sector registered its fastest growth in almost six-and-a-half years in September.

The final composite output index improved to 57.7 from 55.8 in August. However, the score was slightly below the flash 57.8.

The final services PMI stood at 55.6, in line with flash estimate, but up from 53.5 in the previous month. The latest reading signaled the joint-fastest rate of expansion seen since the end 2015.

France's private sector expanded at the fastest pace in 76 months in September. The composite PMI rose to 57.1 from 55.2 a month ago. Nonetheless, the score was slightly below the flash 57.2.

Likewise, the services PMI came in at 57.0 versus 54.9 a month ago. The flash reading was 57.1.

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