The Eurozone Composite Outlook Index posted an increase for the 38th-straight month in September, but growth did cool, according to the Report on Eurozone Manufacturing and Services by the Royal Bank of Scotland.
The index dropped from 57.8 in August to 57.3 in September, while incoming new business increased at the same pace as August. Employment in the combined manufacturing and service sectors also increased in September, which marked an increase for the 13th-straight month.
Both input prices and prices charged for goods increased; however, the rate of increase on input prices slowed due to a drop in oil prices.
The Eurozone PMI was unchanged in September at 56.6, indicating continued improvement in manufacturing business conditions and a growth rate the same as in August.
Output rose for the 16th consecutive month, although the growth was slightly weaker than in August. New orders and domestic demand both rose.
Backlogs of uncompleted orders rose sharply in September, and employment was up by the largest level in almost six years.The entire report can be read by clicking here.