MW: Final Sept. euro-zone PMI confirms contraction
By William L. Watts
FRANKFURT (MarketWatch) -- A final September purchasing managers index reading released Wednesday confirmed a contraction in private-sector activity across the euro zone. Markit said its composite PMI for the 17-nation region came in at 49.1, down from 50.7 in August and broadly in line with a preliminary reading of 49.2. A reading of less than 50 indicates a contraction in activity, while a reading of more than 50 signals growth. "A mild output contraction in September sits in stark contrast to the buoyant pace of expansion seen at the start of the year, suggesting that the economy will have stagnated in the third quarter as a whole," said Chris Williamson, chief economist at Markit.
