Eurozone PMI Manufacturing was finalized at 53.7 in September, up from August’s 51.7. Markit noted that output and news were both up sharply, supported by resurgence in export trade. Growth in region was led by strong manufacturing upturn in Germany. Looking at some member states, Germany PMI manufacturing hit 26-month high at 56.4. Italy hit 27-month high at 53.2. The Netherlands also hit 7-month high at 52.5. France was finalized at 51.2.
Chris Williamson, Chief Business Economist at IHS Markit said: “The eurozone’s manufacturing recovery gained further momentum in September… The recovery would have been far more modest without Germany… Germany’s performance contrasted markedly with modest production growth in Spain, slowdowns in Italy and Austria, plus a particularly worrying return to contraction in Ireland. Excluding Germany, output growth would have weakened to the lowest since June.”