The S&P Global Eurozone Composite PMI rose to 53.1 in September 2026 from 52.0 in August, in line with the flash estimate and marking its highest level in nearly three and a half years. The latest reading signaled a solid acceleration in private-sector activity, with both manufacturing and services posting stronger growth as the third quarter drew to a close.
Demand conditions also improved, as new orders increased at the fastest pace in 41 months and foreign orders registered their strongest rise in more than four and a half years. Capacity pressures became more evident: backlogs of work rose for the first time since June 2022, encouraging firms to expand their staffing levels once again.
Business confidence remained in positive territory, though relatively muted. At the same time, inflationary pressures intensified, with both input costs and output prices climbing at their fastest rates since May.
