Eurozone business activity rises in September: Survey

Private sector business activity in the 16- nation eurozone grew in
September with manufacturing and services each gaining on initial
estimates, a closely-watched survey showed on Monday. The final
purchasing managers' index (PMI) for the 16 countries using the
single currency, compiled by data and research group Markit, rose to
51.1 points from 50.4 in August when it ended 14 months of decline.
The flash estimate pegged it at 50.8. The services index rose from
49.9 points to 50.9 the previous month, beatint the 50.6 flash
figure and topping the emblematic 50- point boom-or-bust line to
indicate a return to growth in this segment for the first time in 16
months. Chris Williamson, chief economist at Markit, said the
results "show France and Germany continuing to expand which, combined
with slower rates of decline in Italy and Spain, raise hopes of a
tentative return to growth" across the eurozone for the third quarter
just ended.