Data released at the beginning of the European session today, Tuesday, September 23, showed mixed results in most of the services and manufacturing Purchasing Managers’ Indices (PMIs) in the Eurozone and the United Kingdom in the preliminary reading for September. The Eurozone Services PMI rose in September to a nine-month high of 51.4, compared to 50.5 in August (expected 50.6). Meanwhile, the Manufacturing PMI fell to a three-month low of 49.5, down from 50.7 in August, matching expectations.

In detail, the French services PMI fell to 48.9 in September, compared to 49.8 in August, marking its lowest reading in two months (compared to expectations of 49.7). Meanwhile, the manufacturing PMI fell to 48.1 in September, its lowest reading in three months, compared to 50.4 in August (compared to expectations of 48.2).
In Germany, the services PMI rose to an eight-month high of 52.5 in September, compared to a revised 49.3 in August, exceeding expectations of 49.5. The manufacturing PMI fell to 48.5, compared to a revised August reading of 49.8, its lowest reading in four months (compared to expectations of 50.0).

On a related note, data from the United Kingdom came in negative, as the manufacturing index fell below expectations in September at 46.2 points, recording its lowest level in five months, compared to the August reading of 47.0. Meanwhile, the services index fell to its lowest level in two months at 51.9, compared to the revised August reading, which rose to 54.2, compared to expectations (53.48).