Markit's eurozone September manufacturing PMI in line

Markit’s final eurozone manufacturing purchasing managers’ index came in at 52.6 in September, in line with the flash estimate and up from 51.7 the month before.

The reading marked a three-month high, with growth of output, new orders, new export business and employment all improving.

In terms of countries, Germany and Austria recorded the fastest growth. Italy moved back into expansion territory, while France edged closer to stabilisation.

Chris Williamson, chief business economist at IHS Markit said: “The key message from the September survey is that the euro area’s manufacturing economy continues to expand at an encouragingly solid pace. The PMI points to production rising at a steady 2% annual pace in the third quarter, with momentum picking up in September.

““The concern is that the upturn is worryingly uneven, reliant on a ‘core’ centred on Germany and its neighbours. German manufacturers reported their second-best month for two-and-a-half years, with strong performances also seen in the Netherlands and Austria. “In contrast, growth remains far weaker than earlier in the year in Spain, Italy and Ireland, while manufacturing in France continues to decline.”