Eurozone Composite PMI falls to 10-month low in September: Markit

The final Eurozone Composite purchasing managers' index (PMI) fell to 52.0 in September, down from 52.5 in August, Markit reported Friday.

The ongoing malaise in the eurozone economy continued at the end of the third quarter, with the latest PMI data showing a further waning of output and new order growth, said the London-based survey compiler.

Trends at manufacturers and service providers were also subdued during September.

Eurozone Services Business Activity Index stood at 52.4 in September, down from 53.1 in August The final Eurozone Manufacturing PMI fell to 50.3, marking a 14-month low.

Growth of manufacturing production was unchanged from August's low, as new orders fell for the first time in 15 months, said Markit. Rates of increase in services activity and new business were both at six-month lows.

"The PMI suggests the eurozone economy remained stuck in a rut in the third quarter. After GDP stagnated in the second quarter, we can only expect modest growth of 0.2-0.3 percent in the third quarter based on these survey readings, with momentum being lost as we head into the final quarter of the year," said Chris Williamson, the Chief Economist at Markit.

He said the overall picture is one of a euro area economy that is struggling against multiple headwinds. These include a lack of domestic demand in many countries, subdued bank lending, sanctions with Russia and a reluctance of companies to expand in the face of an uncertain economic outlook.