Eurozone business growth hits over 3-1/2-year high despite inflation worries: PMI - The Business Times

[BENGALURU] Eurozone business activity expanded at its fastest pace in nearly 3-1/2 years in September as demand remained strong despite inflation worries stemming from the Middle East war, according to a private survey which also showed resurgent price pressures. Inflation in the bloc jumped more than expected to 3.8 per cent last month from 3.2 per cent in August on soaring energy costs, raising the risk the European Central Bank will lift interest rates to a higher-than-expected level. But that, alongside a recent surge in bond yields, has so far done little to harm activity. The S&P Global Eurozone Services PMI rose to a 10-month high of 53.0 in September from August’s 51.6, in line with a preliminary estimate.