Eurozone output rise spread to services in September; PMI data shows rates of increase remain subdued; Employment falls sharply again
Sep 23rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Flash Eurozone Composite Output Index, produced by Markit Economics, and based on around 85% of normal monthly PMI (Purchasing Managers' Index) survey replies, edged up from 50.4 in August to 50.8 in September, signalling a marginal increase in private sector output for the second successive month. The return to growth has followed a 14- month period of declining output, during which the rate of deterioration peaked in February. In September, the output rise spread to services.