Eurozone economy posts sluggish expansion in September as concerns grow over Spain

first_img Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi whatsapp Show Comments ▼ Monday 5 October 2015 9:25 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror The Eurozone economy managed to keep up its lacklustre economic recovery in September, new survey figures show this morning.Markit’s economy-wide purchasing managers’ index (PMI) – derived from surveys of businesses – slipped to a score of of 53.6 in September from 53.4 in August. Despite the dip, the PMI is above the 50 level which implies business activity expanded over the month. Markit said it remained consistent with economic growth of 0.4 per cent in the three months to September, which is the same rate of growth as the previous three months.Yet any further signs of a slowdown would tempt European policy makers to beef up stimulus measures, such as the European Central Bank’s (ECB) €1.1 trillion (£810bn) asset purchase programme, which officials have been quick to say will happen should the economy weaken.“The failure of the economy to pick up speed over the summer will be a disappointment to the ECB, especially with job creation sliding to an eight-month low,” said Markit chief economist Chris Williamson.“The weakening of the pace of expansion in September raises the risk of growth fading further in the fourth quarter, which would in turn boost the likelihood of the ECB opening the QE taps further.”Concerns were also raised over Spain’s growth after its economy-wide PMI dropped to a score of 55.1 from 59.6, signalling the country’s slowest growth so far in 2015.Spain has grown around twice as fast as the Eurozone average this year, but is yet to reach pre-recession levels of output.“The rest of the year will be crucial in determining whether the Spanish economy continues to improve or eases back towards stagnation,” said Andrew Harker, senior economist at Markit. whatsapp Eurozone economy posts sluggish expansion in September as concerns grow over Spain Sharelast_img read more