Eurozone Sept PMI at lowest since Jan 2015: Markit

According to a final purchasing managers’ index (PMI) compiled by Markit Economics, manufacturing activities in the eurozone fell to a reading of 52.6 in September from August’s reading of 52.9 and witnessed the lowest figure since January 2015. In a survey by Reuters, economists’ forecasts were towards a slight drop to 52.8. Any reading above 50 represents an expansion while any reading below 50 indicates a contraction. The September reading shows that business activity in the region expanded but at its weakest rate since 2015.

Markit data shows that France’s business activity reached a 15 month high while Germany’s private sector growth slowed to a 16 month low. The figures show the divergent paths that countries within the euro zone are following.

Markit reported that the output index also increased to a nine month high of 54. The output price index also rose to a reading of 50.1 from August’s 49.3.