Eurozone private sector growth slows in September

Thursday, 23. September 2021 10:00

Eurozone private sector growth slowed in September, according to IHS Markit's preliminary report released on Thursday. The Flash Eurozone PMI Composite Output Index stood at 56.1 in September, falling from August's reading of 59 and missing estimates.

"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, stated. "Firms have become increasingly frustrated by supply delays, shortages and ever-higher prices for inputs. Businesses, most notably in manufacturing but also now in the service sector, are being constrained as a result, often losing sales and customers," he added.

The Flash Eurozone Services PMI Activity Index declined to a four-month low of 56.3, while the Flash Eurozone Manufacturing PMI slid from 61.4 in August to a seven-month low of 58.7 in September.

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