01BusinessEurope
Euro zone business activity grows at its fastest pace in three years
A flash survey showed unexpected September growth, driven by a rebound in German services.
S&P Global's flash composite PMI showed euro zone activity expanding at its fastest rate in more than three years in September, defying forecasts of a slowdown. Germany's composite index rose to 53.8 from 51.8. Firms reported rising input costs and the fastest hiring in over three years.
What holds up
- ✓The figures were published by S&P Global on 23 September.
- ✓German manufacturing eased slightly while services expanded.
What doesn't yet
- ?Whether this is a durable recovery or a temporary rebound is interpretation.
- ?How far rising energy costs will offset gains is a forecast.
Ask before you share
- →Is the rebound broad-based or concentrated in a few economies?
- →How much reflects real demand versus pricing effects?
- →Will the European Central Bank change course?
Sources & original reporting
- [1]Reuters · Published 23 Sept 2026 · reuters.com