9/23/2019, 10:01 AM (Source: TeleTrader)
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Euro area manufacturing output drops more: Markit

Activity in the Eurozone's private sector has mostly stalled on balance, according to the findings of IHS Markit's regular survey with purchasing managers. The composite PMI measure fell 1.5 points to 50.4 in the preliminary reading for September published on Monday, compared to the neutral 50-point mark, as the manufacturing component fell deeper into contraction.

The headline number landed at the lowest level in more than six years. The recent divergence with services has become weaker. The flash manufacturing output index lost 1.9 points to 46. It was last weaker almost seven years ago. The overall sector's gauge retreated 1.4 points to 45.6, an 83-month low. The nonmanufacturing indicator lost 1.5 points to 52, the worst print since January and the biggest slowdown in more than six years.

Total new orders shrank the most since June 2013. The numbers are consistent with 0.1% economic growth for the third quarter, the firm said.

Baha Breaking News (BBN) / IT