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Investing.com -- Euro zone business activity expanded at its fastest pace in 16 months in September, according to a survey released Tuesday.
The HCOB Flash Eurozone Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 51.2 in September from 51.0 in August.
This marked the ninth consecutive month of growth in the region’s business activity.
The September reading slightly exceeded economists’ expectations of 51.1 in a Reuters poll.
Despite the acceleration in overall business activity, new orders stagnated after a brief expansion in August. This development could raise questions about the sustainability of the euro zone’s economic growth in coming months.
Any PMI reading above 50 indicates expansion in business activity, while readings below that threshold signal contraction.
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