FX.co ★ Eurozone Private Sector Growth Ticks Up But Remains Muted

The HCOB Eurozone Composite PMI was confirmed at 51.2 for September 2025, a slight increase from 51.0 in August, marking a fourth consecutive month of growth. This reading indicates the most rapid expansion in private sector activity since May 2024, although the growth still remains modest. Both the services and manufacturing sectors contributed to this slight uptick. New orders experienced their fastest increase since May 2024, though the rise was minimal. Conversely, backlogs of work continued to decrease, and there was a drop in employment rates. In terms of pricing, input cost inflation showed signs of easing, and output charges observed their weakest rise since May. Meanwhile, business confidence saw an uptick, reaching its second-highest point since July 2024, although it remains below long-term historical averages.