Private-sector business activity in the eurozone grew in September at the fastest pace in nearly three and a half years. S&P Global’s final composite Purchasing Managers’ Index (PMI) rose to 53.1 points from 52.0 in August, Anadolu Agency reports . A PMI reading above 50 points indicates an expansion in activity, while a reading below that level indicates a contraction. The business activity index in the services sector rose from 51.6 to 53.0 points, its highest level in 10 months. Output growth accelerated in both manufacturing and services. All five countries covered by the composite survey recorded growth for the first time since November. Spain posted the strongest pace, followed by Ireland.
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