slows down the growth of economic activity in theEurozone, to its lowest level for twenty months. L'PMI composite index elaborated by Markit, in fact, in September it recorded a drop from 52,9 in August to 52,6, while remaining above the 50 point mark, which separates the contraction of activity from its expansion. The expectations of analysts were disappointed, as they had forecast a more contained decline to 52,8.
The index showed an unexpected improvement as regards manufacturing, which settled at 52,6 against 51,7 in August, above the consensus at 51,5. However, services were down: from 52,8 to 52,1. Analysts had expected a stable figure with that of August.
Looking at individual countries, the PMI index improves by France. The preliminary reading for September, in fact, records an increase in the composite index to 53,3 points, against 51,9 in August and 51,4 forecast by analysts. Strong increase for the part relating to services, from 52,3 to 54,1 points.
Global food demand Germanhowever, it settled at a 16-month low, due to the weakness of services. The flash estimate of the German composite PMI fell to 52,7 in September from 53,3 in August, despite the acceleration in manufacturing.
