Zone euro Pmi Composite

The HCOB Eurozone Composite PMI was revised higher to 49.6 in September 2024 from a preliminary of 48.9 and compared to 51 in August, signalling total business activity in Euro Area private sector activity decreased for the first time since February. Services slowed (51.4 vs 52.9) and the manufacturing contraction deepened (45 vs 45.8) as demand for euro area goods and services fell at the quickest pace in eight months, leading to backlog reductions and a slightly faster rate of job cutting. Business confidence also weakened fractionally, taking it further beneath its long-run average. Meanwhile, the three biggest economies in the Euro Area - Germany, France and Italy - recorded contractions simultaneously for the first time in 2024 so far.