World, As Seen from the most beautiful islands: Ireland and Cyprus

September economic activity weaker than in August, fears of stagnation dominate the market


Economic activity in the euro area weakened in September compared to August. The British market researcher Markit announced this on the basis of preliminary figures. Activity in the services sector was declining, but activity in the euro area industry was increasing.

The combined purchasing manager index of Markit, which measures industrial and service activity, reached a level of 50.1 before September, compared with 51.9 in August. A position of 50 or more indicates growth, below it indicates shrinkage.

The measure of service sector in the euro area, such as catering, retail and aviation, recorded a position of 47.6 as against 50.5 a month earlier. The sector is suffering from the increasing number of coronary artery disease in many European countries and the reintroduction of restrictive measures. The index for industry in the euro area was 53.7 as against 51.7 in August.

Industry in Germany showed stronger growth in September, while the German services sector showed shrinkage. In France, the industry grew after the decline of August. According to Markit, the French service sector shrank after growth in the previous month.

ING economist Bert Colijn says that the figures indicate that the economic recovery of the coronacrisis is weakening and may stagnate. The euro area economy is feeling the effects of the increasing number of Corona infections, says Colijn.

The combined index for the United Kingdom fell to 55.7 of 59.1 in August. According to Markit, there was a decline in activity, particularly in the British services sector.

Written by: Patrick O'Brien

Patrick O'Brien is a student who is taking only the first steps in journalism. The main interest is events from the world of macroeconomics and finance.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

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