S&P Global and Hamburg Commercial Bank (HCOB) jointly released the latest Purchasing Managers' Index (PMI) showing that Eurozone manufacturing contracted further at the end of the third quarter.

After being at the same level for three months in a row, the Eurozone manufacturing PMI fell from 45.8 in August to 45 in September, indicating a marked acceleration in the health of the euro area's commodity production economy, but higher than the initial reading of 44.8. The index fell to its lowest level so far this year, below the average of the current 27-month economic downturn.

Key metrics such as production, new orders, employment and purchasing activity are all declining at a faster rate. Among them, the manufacturing PMI output index fell to 44.9 from 45.8 in August, hitting a nine-month low. EUROZONE COMMODITY PRODUCERS CUT INVENTORIES AS BUSINESS GROWTH EXPECTATIONS FELL TO A 10-MONTH LOW.