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- Eurozone's preliminary manufacturing and services PMIs decline in September
Eurozone's preliminary manufacturing and services PMIs decline in September
Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's preliminary manufacturing PMI fell to 52.0 in September from 52.3 in August, in line with expectations.
Eurozone's preliminary services PMI declined to 54.0 in September from 54.4 in August. Analysts had expected the index to decrease to 54.2.
Markit's Chief Economist Chris Williamson said that Eurozone's economy expanded further, "but there remains a worrying failure of growth to accelerate to a pace sufficient to generate either higher inflation or strong job creation".
"The survey data indicate that the Eurozone economy expanded 0.4% in the third quarter, in line with the second quarter. This is, however, below what's generally regarded as its long-term potential growth rate and puts the economy on course to grow by just 1.6% this year," he added.
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