Nothing can harm eurozone growth (it seems)
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https://think.ing.com/snaps/eurozone-pmi-sep26/
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4 itemsEurozone PMI in line with continued steady growth despite global unrest
Nothing can harm eurozone growth (it seems)
The eurozone's resilience seems unshakeable as evidenced by the recent rise in the composite PMI, which reached 53.1 in September — its highest level in three years, up from 52.0 in August. Per the full note from ing-think, this rebound occurs in the face of rising energy prices and supply chain disruptions, particularly with a notable increase in services activity. The PMI figures suggest that, even amid geopolitical tensions and inflationary pressures, the eurozone may be poised for decent growth in the third quarter. While this data is promising, the desk remains cautious about future growth given the substantial reliance on service sector momentum, and challenges remain in manufacturing, especially in France, where the PMI is precariously close to the contraction threshold. In summary, optimism persists, but the nuances in sector performance warrant attention.