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Eurozone Manufacturing growth accelerates in September

Eurozone Manufacturing growth accelerates in September

In the euro zone, the data of the manufacturing for September appeared strong , marked by the sector's performance in Germany, which leads the recovery.

Manufacturing PMI in the Eurozone registered 53.7 in September after a previous of 51.7, hitting the highest level since August 2018.

With the pandemic outbreak throughout Europe, Governments imposed strict closures, but with low rates of infection, many of those controls have been removed, which helped recovery in demand.

However, the return of appearance of cases means re-imposition of some restrictions now. In Germany, the manufacturing PMI rose in September to 56.4 after August reading of 53.23, while the expectations indicated a rise of 56.6.

France also registered a return to growth during the September, as the PMI came in at 51.2 from August's 49.8 contraction.

In a separate report, the euro area announced the high unemployment rates in August at 8.1% after a previous reading of 8%, while the annual producers index fell in August by 2.5% after a previous of 3.6% decrease.

As for the euro, it recorded a rise during the day against the dollar to record the highest level since a week at 1.1756.

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