Eurozone Growth Defies Energy Shock as Stronger Economy Complicates ECB Rate Outlook - EU Today

Business activity across the eurozone accelerated sharply in September despite rising energy prices, adding to evidence that the currency bloc is proving more resilient to the latest energy shock than economists had expected. The September flash purchasing managers’ survey showed the composite PMI rising to 53.1 , from 52.0 in August. A reading above 50 indicates expansion. The result was the strongest since April 2023 and considerably above forecasts. Economists surveyed ahead of the release had expected the index to fall to 51.7, while even the highest forecast stood at 52.6. S&P Global said the survey was consistent with eurozone GDP growing by around 0.