According to the PMI survey, business activity in the Eurozone accelerated this month, setting the fastest growth rate in more than three years, breaking previous expectations of an economic slowdown; however, companies are also facing pressure from a sharp rise in operating costs. The S&P Global Eurozone Composite Initial PMI Output Index jumped from 52.0 in August to 53.1 in September, the highest level since April 2023. Chris Williamson, chief commercial economist at S&P Global Financial Intelligence, said that given the rise in energy prices due to the ongoing conflict in the Middle East, it is not surprising that inflationary pressure rose again in September, so it is even more encouraging to see economic growth showing resilience. Overall, new orders surged at the fastest rate in more than four years, supported by further export growth. Both services and manufacturing contributed to the expansion. The service sector PMI rebounded from 51.6 to 53.0, the highest in nearly a year. The manufacturing index remained unchanged at 52.7, but the output indicator rose slightly from 53.3 to 53.4.

According to the PMI survey, business activity in the Eurozone accelerated this month, setting the fastest growth rate in more than three years, breaking previous expectations of an economic slowdown; however, companies are also facing pressure from a sharp rise in operating costs. The S&P Global Eurozone Composite Initial PMI Output Index jumped from 52.0 in August to 53.1 in September, the highest level since April 2023. Chris Williamson, chief commercial economist at S&P Global Financial Intelligence, said that given the rise in energy prices due to the ongoing conflict in the Middle East, it is not surprising that inflationary pressure rose again in September, so it is even more encouraging to see economic growth showing resilience. Overall, new orders surged at the fastest rate in more than four years, supported by further export growth. Both services and manufacturing contributed to the expansion. The service sector PMI rebounded from 51.6 to 53.0, the highest in nearly a year. The manufacturing index remained unchanged at 52.7, but the output indicator rose slightly from 53.3 to 53.4.