The S&P Global Eurozone Manufacturing PMI rose to 52.9 in September 2026, the most since May 2022 and above preliminary estimates of 52.7. Demand improved notably, with new orders increasing at their fastest pace since March 2022, while export sales expanded for a second consecutive month, marking the first sustained rise in overseas orders in more than four and a half years. Rising demand also put pressure on factory capacity, with backlogs increasing for the first time since April and at the fastest pace in almost four and a half years. Employment edged higher, reversing a prolonged period of job losses, while manufacturers increased purchases of raw materials and intermediate goods at one of their fastest rates since May 2022.
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