Eurozone Manufacturing PMI Hits 52-Month High in September as Spain Returns to Growth and France Beats Forecasts

Euro zone factory activity accelerated to its strongest pace in 52 months in September, with the HCOB Eurozone Manufacturing PMI compiled by S&P Global confirming broad-based expansion across the bloc's major economies. Germany held its manufacturing upturn firm, providing a key pillar of support, while France recorded a final PMI of 50.6, exceeding the consensus forecast of 50.3 and marking continued expansion. Spain returned to growth territory after a period of contraction, adding another positive signal for the region.

Italy's manufacturing sector showed only marginal improvement, and Greece saw growth ease amid rising cost pressures, pointing to some unevenness within the recovery. Outside the eurozone, Japan's manufacturing growth slowed to a six-month low in September, and Russia's factory sector slipped further into contraction as demand remained weak, underscoring that the eurozone's strengthening stands apart from a more mixed global picture.