European PMI fell by 0.7
European composite PMI for manufacturing and services sector fell by 0.7 points last month to 54.3. The majority of analysts expected a less rapid decline of the index thinking that it will lose no more than 0.4 points from the august reading, which corresponded to the initial data.
Euro area’s services PMI fell to 53.7 that is 0.7 points below the previous level. The forecasts for this release were also moderate as expects predicted decline only to 54.0.
The biggest declines in September were seen in German PMI which contracted by 0.9 points compared with the previous month to 54.1, the lowest level in 2 months.
As for the composite index for France, it showed the highest growth rising by 1.7 from the August reading to a 3-month high of 50.2 points.