Eurozone PMI contractions in September

The Eurozone HCOB Composite Purchasing Managers' Index (PMI), compiled by Standard & Poor's Global and seen as a good measure of overall economic health, rose to 47.1 points in September from a 33-month low hit in August of 46.7 points.

The industrial purchasing managers' index has remained below the 50-point level since mid-2022, falling to 43.4 points in September from 43.5 points in August and below analysts' expectations of 44.0 points in September.

The services PMI rose to 48.4 points in September from 47.9 points in August, with the services new business index falling to 46.4 points in September from 46.7 points in August, which is its lowest level since February 2021.

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