Eurozone private sector activity reaches three-year high in September

The S&P Global Composite Purchasing Managers' Index in the Eurozone rose to 53.1 in September, reaching its highest level in three years. This data, which came in despite analysts' expectations of a decline, showed that economic activity gained momentum across the region.

Expectations Exceeded in Composite PMI Data

The Composite Purchasing Managers' Index (PMI) compiled by S&P Global rose from 52 in August to 53.1 in September, moving well above the 50 threshold that separates growth from contraction.

Analysts surveyed by Bloomberg had predicted a slight drop in the index to 51.7, but the announced figures came in above expectations.

Revival in German and French Economies

Growth expectations were also surpassed in Germany and France, Europe's two largest economies, supporting the recovery across the region.

In Germany, activity recorded its fastest increase since October 2025, while France unexpectedly saw its fastest growth in over two years.

Manufacturing and Services Sectors in Germany

In Germany, the S&P Global Composite PMI rose from 51.8 in August to 53.8.

The services sector stood out with the index jumping to 52.9, while the manufacturing index fell slightly to 53.8.

France's Fastest Growth in Two Years

In France, the Composite PMI rose from 48.5 in August to 51.2 in September, achieving a notable momentum.

With this data, the country unexpectedly experienced its fastest growth recorded in over two years.

Experts Emphasize Broad-Based Improvement

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated that the manufacturing sector, led by Germany, is experiencing its strongest growth period in over four years, driven by increases in artificial intelligence and defense spending.

Williamson also emphasized that growth in the services sector is beginning to revive, pointing to a broad-based improvement in the economic growth process.