10/1, 10:05 AM (Source: TeleTrader)
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Eurozone manufacturing PMI rises to 53.7 in September

The Eurozone Manufacturing Purchasing Managers Index (PMI) for September rose to 53.7, representing a two-point increase compared to August's figure, according to the final report by IHS Markit published on Thursday.

September was marked by the strongest growth in over two years, while operational conditions have improved over the last three months. The most evident improvement was seen in Germany with the PMI being at its highest in the last 26 months. The operating conditions have improved greatly in the Netherlands, at the same time France and Austria registered "modest growth."

"Encouragingly, optimism about the future rose not only in Germany but also in France, Italy, Spain and Austria, hinting that the upturn could broaden out in coming months. Without a more broad-based recovery, the sustainability of the upturn looks at risk, with additional worries fuelled by rising Covid-19 infection rates," chief business economist at IHS Markit Chris Williamson commented in the press release.

Breaking the News / AM