0933 GMT - The eurozone's composite PMI significantly exceeds expectations this month, defying renewed escalation in the Middle East, Commerzbank's Vincent Stamer says in a note. The increase to 53.1, from 52.0 in August, marks the highest level since April 2023. "The PMI is thus in a range where the eurozone economy has historically grown at an above-average rate--that is, by at least 0.4% compared with the previous quarter," Stamer says. Sentiment among services providers in particular improved dramatically, recovering from the slump suffered in the spring. The PMI data show the European economy is slowly gaining momentum. However, continued high energy prices could further fuel inflation in the coming year and potentially weigh on growth, Stamer adds.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.