Eurozone upturn regains momentum in September
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.
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. ■