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Investing.com -- Just under half of the 19 monitored sectors in Europe recorded growth in output during September, marking the lowest number of expanding segments since May, according to the latest S&P Global Europe Sector PMI.
Other Financials led the growth, indicating the fastest rise in business activity among all sectors. Meanwhile, the Banks sector experienced a notable slowdown in output growth at the end of the third quarter, despite being a strong performer previously.
Real Estate registered a fresh increase in activity.
The Technology category continued to lead broad sector rankings despite a renewed decline in Technology Equipment production, as Software & Services signaled a marked upturn in output.
In contrast, the Basic Materials category underperformed, with contractions in production across all three contributing sectors: Chemicals, Metals & Mining, and Forestry & Paper Products. The Chemicals segment emerged as the weakest performing sector overall in September.
New orders growth was limited to just five sectors in September, down from eight in August. All segments showing rises in new sales were services-based, with Software & Services firms experiencing the strongest upturn.
The weaker demand conditions affected hiring decisions, with only four sectors registering an increase in staffing numbers - the lowest since February. Other Financials recorded the sharpest rate of job creation among these four sectors.
Inflationary pressures strengthened in many sectors during the month. Decreases in both input costs and output charges were confined to manufacturing-only segments, specifically in Chemicals and Automobiles & Auto Parts.
The S&P Global Europe Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers across over 8,000 private sector companies in 12 European countries, including Germany, UK, France, Italy, and Spain.
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