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HCOB Eurozone Composite PMI rose to 47.1 in September 2023.


London, Friday, 22 September 2023


According to a preliminary estimate, the HCOB Eurozone Composite PMI increased marginally from August's 34-month low to 47.1 in September 2023, slightly exceeding market estimates of 46.5. Even so, the most recent PMI measurement at the end of the third quarter nevertheless showed a notable monthly fall in business activity, mostly due to a sharp contraction in the manufacturing sector.


The pace of the services sector's collapse, though, slowed somewhat. Although the rate of employment creation was the joint second-slowest in the current 32-month sequence of growth, total inflows of new orders declined to levels not seen since November 2020, and backlogs of work saw the greatest fall since June 2020. In terms of costs, selling prices increased at their lowest rate since February 2021 while input price inflation advanced to a four-month high. The attitude among businesspeople finally fell to its lowest point since November of last year.








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