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September 23, 2010    

Euro zone manufacturing and services ease in September

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by Kay Murchie
Euro zone manufacturing and services ease in September

There were signs that the euro zone economic recovery is cooling after growth in manufacturing and services eased.

The manufacturing purchasing managers index (PMI) eased in September to 53.6, down from August’s figure of 55.1.

Meanwhile, the services PMI fell to 53.6 from 55.9.

However, both indices are above the crucial 50 mark - which separates growth from contraction.

On a positive note, Markit revealed that business confidence continued to grow.

The manufacturing confidence index rose one point to 98, slightly below its long-term average of 100.

Following the figures, the euro fell to 1.3347 from the day’s opening at 1.3404.

In related news, the European Commission recently said the euro zone’s economic recovery remained fragile.

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