The Eurozone Composite Purchasing Managers Index Continues To Be Depressed

On October 4, local time, data released by Standard & Poor's, a global financial analysis company, showed that the final value of the Eurozone Composite Purchasing Managers’ Index (PMI) in September was 47.2, meaning that the Eurozone index has been below the 50 boom-bust line for four consecutive months. The final value of the Eurozone PMI in September was 48.7, which was below the 50 threshold for two consecutive months. The European Central Bank raised all three key interest rates in the euro zone by 25 basis points in September. Since July last year, the Central Bank has raised interest rates 10 times in a row. Inflation in the euro zone fell to 4.3% in September, the lowest level in nearly two years. Guindos, deputy president of the European Central Bank, said in Cyprus on October 4, local time, that although inflation in the euro area continues to decline, it will still remain at a high level for a long time and it needs time to curb inflation.