Data released at the start of the European session on Wednesday, September 23, showed divergent PMI readings for the services and manufacturing sectors in the Eurozone and the UK for September. The Eurozone services PMI rose to a ten-month high of 53.0 in September, compared to 51.6 in August (expected 51.4). In contrast, the manufacturing PMI remained unchanged at 52.7 (expected 52.6).

Specifically, French data also showed mixed results. The French services PMI rose to 51.4 in September, compared to 48.0 in August, marking its highest reading in ten months (expected 48.3). Conversely, the manufacturing PMI fell to 50.3 in September, its lowest reading in two months, compared to 51.1 in August (expected 50.9).

In Germany, the services index rose to a seven-month high of 52.9 in July, up from 49.7 in August, exceeding expectations of 49.9. The manufacturing index also climbed to 53.8, compared to August’s reading of 54.4, its lowest level in two months (expectations were for 54.1).

Meanwhile, data from the UK in September was mixed. The manufacturing index came in better than expected at 52.0, its highest level in three months, compared to August’s reading of 51.7. In contrast, the services index slowed to a three-month low of 51.7, compared to August’s reading of 52.5 (expectations were for 52.0).