Euro zone recovery slows in September as coronavirus infections rise

Euro zone business activity has taken a hit in the month of September as countries face a second wave of coronavirus infections, initial data showed Wednesday.

The flash euro zone PMI (purchasing managers’ index) composite index — which measures both manufacturing and services — stood at 50.1, just marginally pushing into expansion territory.

A reading below 50 indicates an economic contraction. This latest preliminary number points to a three-month low in economic activity for the region.

The services sector is in a particularly dire state, the data showed, with activity contracting this month to a four-month low. Manufacturing in the euro zone remained in positive territory and hit a 31-month high.