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Eurozone economic activities slow on September

Eurozone economic activities slow on September

The final Purchasing Managers’ Index data released on Thursday showed a slowdown in euro area business activity in September.

The Composite PMI index of manufacturing and services retreated to 50.1 from 51.9 in August, down from a preliminary of 50.4, according to IHS Markit data.

The manufacturing sector has signaled its lowest level in seven months in September, and the services PMI slowed to 51.6 from 53.5 in August.

The ease in growth was underpinned by the contraction in Germany’s private sector for the first time in six years, as the composite PMI drifted lower into the contraction zone recording 48.5, compared to a prior of 51.7.   

As of 08:20 GMT, the euro traded lower versus the U.S. dollar at $1.0954, but managed to recover some of its earlier losses when it fell to a bottom of $1.0940.

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