Eurozone business activity grew at its fastest pace in 16 months in September, according to the latest S&P Global HCOB Flash Eurozone Composite Purchasing Managers’ Index (PMI). The index rose to 51.2, up from 51.0 in August, marking the ninth consecutive month of expansion.
The September reading slightly surpassed economists’ expectations of 51.1 in a Reuters poll. However, new orders remained stagnant after a brief increase in August, raising potential concerns about the durability of the eurozone’s growth in the coming months.
A PMI reading above 50 indicates expansion in business activity, while readings below 50 signal contraction.
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