Eurozone PMI at 20-month low thanks to Germany, Italy and SpainStaff Writer | October 7, 2016
The rate of economic expansion across the eurozone eased to a 20-month low in September.
Europe Markit Eurozone Composite PMI
The average index reading during the third quarter as a whole (52.9) was the weakest since the final quarter of 2014.
By sector, output rose at manufacturers and service providers. The rate of expansion in manufacturing production ticked higher and remained above that for service sector business activity for the fourth straight month.
Services output growth dipped to a 21-month low. Ireland and Spain registered the fastest expansions of economic output, despite the rates of increase easing to 39- and two-month lows respectively. Italy saw growth slip to a four-month low.
France was the only one of the ‘big-four’ nations to signal an accelerated increase in economic output in September.
The improvement in France took its pace of expansion to a 15-month high and, with growth slowing to a 16-month low in Germany, took it close to that signalled for Germany. ■