PMI surveys show eurozone recovery gaining momentum

|By:, SA News Editor

Eurozone services PMI climbed to 52.2 in September (flash 52.1) from 50.7 in August.

Composite output 52.2 (flash 52.1) vs 51.5.

"The eurozone enjoyed its strongest quarter of expansion for just over two years in the third quarter," says Markit, adding that this bodes well for further growth in Q4.

Germany - who else - led the expansion, France returned to growth, Spain stabilized, and Ireland and Italy impressed.

However, the recovery is fragile and growth modest, with eurozone PMI "consistent with GDP rising by just 0.2%" in Q3.

EU Stoxx 50 +0.05%, euro +0.1% to $1.3597. (PR)

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