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EUROZONE DATA: September Services/Composite PMI Revised Higher

EUROZONE DATA

The French September final services PMI saw a 1.3 point upward revision 49.6 (vs 48.3 flash). Taken alongside a stronger-than-expected Spanish reading, the Eurozone-wide services PMI was 51.4 (vs 50.5 flash).

The composite PMI was confirmed to be sub-50 for the first time since February this year, though the 49.6 print exceeded the 48.9 flash. The release notes that “the currency bloc’s big-three nations – Germany, France and Italy – recorded contractions simultaneously for the first time in 2024”.

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The French September final services PMI saw a 1.3 point upward revision 49.6 (vs 48.3 flash). Taken alongside a stronger-than-expected Spanish reading, the Eurozone-wide services PMI was 51.4 (vs 50.5 flash).

The composite PMI was confirmed to be sub-50 for the first time since February this year, though the 49.6 print exceeded the 48.9 flash. The release notes that “the currency bloc’s big-three nations – Germany, France and Italy – recorded contractions simultaneously for the first time in 2024”.

Keep reading...Show less