The final PMI estimate for September in the euro area confirmed the ongoing deterioration in economic activity as the aggregate performance index the PMI Composite was revised lower to 49.1 from 49.2 despite the upside revision to the manufacturing PMI; the sector fell into contraction from August when it expanded moderately by 50.7.

On the other hand, the services sector contracted more than expected with the downside revision to the PMI services to 48.8 from the advanced estimate of 49.1 and slowed from 51.5 expansion reported in August.