Euro zone factory growth accelerates again in September, PMI shows
New orders and output reached multi-year highs as resilient demand lifted the manufacturing index to 52.9, while inflation pressures rose, S&P Global said.
- On Thursday, final survey results from S&P Global showed the Eurozone Manufacturing Purchasing Managers' Index rose to 52.9 in September, marking the third consecutive month of growth and reaching its highest level since May 2022.
- Rising demand for investment goods like machinery and equipment drives the upturn, with output of capital goods growing in September at rates unseen since the post-COVID rebound five years ago.
- Factory growth accelerated to its fastest rate in more than four years, with the Netherlands leading the expansion across the bloc while Germany recorded solid growth and France, Italy, and Spain saw modest expansion.
- Rising input and output prices fuel speculation about additional rate hikes, with markets currently pricing in three European Central Bank rate hikes by mid-2027 as inflation rose to 3.6% in September from 3.2% in August.
- Despite industrial gains, consumer goods demand continues to fall as the increased cost of living drags on household spending, Chris Williamson, chief business economist at S&P Global Market Intelligence, warned.
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13 Articles
The results of a new economic survey showed that the growth of the manufacturing sector in the euro area continued to rise over the past September, recording its fastest pace in more than four years.
Eurozone Manufacturing Activity Gathers Momentum
The euro area manufacturing activity strengthened in September as production and new orders grew at their sharpest rates since early 2022, final survey results from S&P Global showed Thursday. The final manufacturing Purchasing Managers' Index rose to 52.9 in September from 52.7 in the previous month.
Growth has continued to improve throughout the eurozone. Among the four largest economies, Germany has by far the best mood.
The manufacturing activity of the euro area gained strength in September, with the S&P Global industrial PMI advancing from 52.7 in August to 52.9, reaching the highest level in 52 months and signaling an acceleration of the expansion of the sector. The production index also showed strengthening, rising from 53.3 to 53.6, the highest level in 55 months, reflecting the most intense growth of industrial activity since the beginning of 2022. Perfor…
Euro zone factory growth accelerates again in September
Factory growth in the euro zone continued its upward march in September, hitting its fastest rate in more than four years, as resilient demand drove new orders and output to multi-year highs despite the ongoing Middle East conflict, a survey showed.
Euro zone factory growth accelerates again in September, PMI shows
Factory growth in the euro zone continued its upward march in September, hitting its fastest rate in more than four years, as resilient demand drove new orders and output to multi-year highs despite the ongoing Middle East conflict, a survey showed.
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