Business activity in Eurozone down for 1st time in 7 months

By Gokhan Ergocun

ISTANBUL (AA) - Eurozone business activity saw a renewed decline in September, data provider S&P Global said on Monday.

The fall in output was the first in the last seven months and came amid a sustained reduction in new orders, it noted.

New business fell at the sharpest pace since January, it said.

"With new orders and volumes of outstanding business falling at sharper rates and business confidence at a ten-month low, companies scaled back their workforce numbers for the second month running," it said.

Meanwhile, demand weakness resulted in easier inflation of both input costs and output prices, it added.

The Eurozone Composite purchasing managers index (PMI) output was at 48.9 in September, down from 51 in August.