Eurozone Preliminary Manufacturing PMI unexpectedly falls to 43.4 in September vs. 44.0 expected

Eurozone Manufacturing PMI declined to 43.4 in September, missing estimates of 44.0.
Bloc’s Services PMI improved to 48.4 in September vs. 47.7 forecast.
EUR/USD keeps losses near 1.0650 after German, Eurozone Services PMIs.

Dhwani Mehta FXStreet

The Eurozone manufacturing sector contraction deepened but the services sector saw a mild improvement in September, the official data from the HCOB's latest purchasing managers index survey showed Friday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) edged lower to 43.4 in September, compared with the expectations of 44.0 and above the 43.5 seen in August. The index hit a two-month trough.

The bloc’s Services PMI rose to 48.4 in September from 47.9 in August, touching a two-month high, arriving above the 47.7 consensus.

The HCOB Eurozone PMI Composite improved to 47.1 in September vs. 46.5 anticipated and 46.7 reported in August. The index also recorded a two-month peak.

FX implications

EUR/USD is consolidating losses near 1.0650 after mixed Eurozone PMIs. The spot is down 0.08% on the day, as of writing.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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