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Financial News: Eurozone Private Sector Growth At 5-Month Low

Eurozone Private Sector Growth At 5-Month Low

09/23/2021 - 04:29:00 (RTTNews)

(RTTNews) - The euro area private sector growth eased to a five-month low in September amid supply chain bottlenecks, flash survey results from IHS Markit showed on Thursday. The flash composite output index fell to 56.1 in September from 59.0 in August. The score was forecast to fall moderately to 58.5.

Robust but slowing growth was recorded across both manufacturing and services. The services Purchasing Managers' Index dropped to 56.3 from 59.0 in the previous month. The expected reading was 58.5.

At 58.7, the manufacturing PMI declined to a seven-month low from 61.4 in August. The reading was also below forecast of 60.3.

"September's flash PMI highlights an unwelcome combination of sharply slower economic growth and steeply rising prices," Chris Williamson, chief business economist at IHS Markit said.

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