Growth across the Eurozone’s factories accelerated in September, a closely-watched survey showed on Thursday, despite a backdrop of rising inflationary pressures. The S&P Global Eurozone manufacturing PMI came in at 52.9, up from August’s 52.7 and confounding expectations for no change. The manufacturing PMI output index was also higher, rising by 0.3 to 53.6. Fuelling the rises was a spike in new orders, which rose at the fastest pace since March 2022. Price pressures remained, however, with rates of inflation for both input costs and output prices rising for the first since May, although they remain below the peaks seen at the start of the war in the Middle East. Amid individual countries, the PMI softened to 53.9 from 54.3 in Germany.
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