The September PMI surveys provided further
evidence that the eurozone recovery gathered
pace, after the region pulled out of the longest
recession in its history. There were also reassuring
signals on the jobs front as the rate of losses eased
to a very modest pace, raising the possibility of
employment starting to recover in the near future.
The final Markit Eurozone PMI® Composite
Output Index rose to a 27-month high of 52.2 in
September, up from 51.5 in August and above the
earlier flash estimate of 52.1.
Rates of output expansion were identical in the
manufacturing and service sectors, as growth at
manufacturers eased from August’s high and the
recovery in service sector business activity caught
up by hitting a 27-month record.
Underpinning the latest expansion in eurozone
economic output was a second straight month of
rising inflows of new business. Moreover, the rate
of growth in new orders was the sharpest since
June 2011.
Companies benefited from improved demand at
home and abroad. Solid new business growth was
registered at manufacturers and services providers,
including a further increase in manufacturing new
export orders.
The price front remained a mixed picture. Rising oil
prices led to a further increase in average costs.
The rate of inflation remained solid at service
providers, while manufacturers saw purchase
prices rise for the first time since January. In
contrast, strong market competition led to a further
reduction in average selling prices, despite the rate
of decline easing to a 16-month low.
Source: Markit
evidence that the eurozone recovery gathered
pace, after the region pulled out of the longest
recession in its history. There were also reassuring
signals on the jobs front as the rate of losses eased
to a very modest pace, raising the possibility of
employment starting to recover in the near future.
The final Markit Eurozone PMI® Composite
Output Index rose to a 27-month high of 52.2 in
September, up from 51.5 in August and above the
earlier flash estimate of 52.1.
Rates of output expansion were identical in the
manufacturing and service sectors, as growth at
manufacturers eased from August’s high and the
recovery in service sector business activity caught
up by hitting a 27-month record.
Underpinning the latest expansion in eurozone
economic output was a second straight month of
rising inflows of new business. Moreover, the rate
of growth in new orders was the sharpest since
June 2011.
Companies benefited from improved demand at
home and abroad. Solid new business growth was
registered at manufacturers and services providers,
including a further increase in manufacturing new
export orders.
The price front remained a mixed picture. Rising oil
prices led to a further increase in average costs.
The rate of inflation remained solid at service
providers, while manufacturers saw purchase
prices rise for the first time since January. In
contrast, strong market competition led to a further
reduction in average selling prices, despite the rate
of decline easing to a 16-month low.
Source: Markit
