By Ed Frankl Business activity in the eurozone contracted again in September, albeit at a slower pace, as new orders dropped at the fastest pace since...
Business activity in the eurozone contracted again in September, albeit at a slower pace, as new orders dropped at the fastest pace since November 2020, data from a purchasing managers' survey showed Friday.
The HCOB Flash Eurozone Composite PMI Output Index--a gauge of activity in the manufacturing and services sectors--rose to a two-month high of 47.1 in September from 46.7 in August. The reading, which indicates activity contracted as it fell below the 50 no-change mark, also came in a little better than expectations from economists polled by The Wall Street Journal, who saw the PMI ticking down to 46.5.
Earlier Friday, French PMIs suggested the economy contracted at its steepest rate in almost three years, while German PMIs suggested activity contracted, albeit at a calmer pace than the previous two months.
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