The eurozone PMI Composite Output Index fell unexpectedly to 52.3 in September, according to Markit Economics.
The manufacturing and services PMIs declined as well. The indicator dropped to its lowest reading since December. In August, the number came in at 52.5. September’s score was shy of expectations in a Reuters poll for no change from August's reading.
But still, PMI stands above 50 representing growth. Anything below the level of 50 indicates reduction. This month’s number suggests a growth increase for the 15th straight month since July 2013.
However, the current situation shows that the economy is very sensitive to weak inflation and tensions with Russia. By components, the services purchasing managers’ index dipped to 52.8 from the prior month’s level of 53.1. Experts had expected 53 points. The manufacturing PMI hit the lowest mark of 50.5 in 15 months, down from 50.7. Most analysts anticipated a decline to 50.6 points.
The manufacturing PMI for France, the bloc's second-biggest economy, climbed to 48.8 from 46.9, while economists had predicted 47 points.
