9/23, 10:02 AM (Source: TeleTrader)
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Eurozone composite PMI down to 50.1 in September

Private sector activity in the Eurozone declined in September amid "divergent trends" in economic recovery by sector and by country, according to IHS Markit's preliminary report released on Wednesday. The Flash Eurozone PMI Composite Output Index came in at 50.19, dropping from August's 51.9 and hitting a three-month low.

The Flash Eurozone Services PMI Activity Index stood at a four-month low of 47.6 in September compared to 50.5 reported the previous month. On the other hand, the Flash Eurozone Manufacturing PMI Output Index rose to 56.8, rising from 55.6 in August and reaching a 31-month high.

"The Eurozone's economic recovery stalled in September, as rising COVID-19 infections led to a renewed downturn of service sector activity across the region," Chief Business Economist at IHS Markit Chris Williamson said. "The main concern at present is therefore whether the weakness of the September data will intensify into the fourth quarter, and result in a slide back into recession after a frustratingly brief rebound in the third quarter."

Breaking the News / JR