October 5, 2026
U.S. service sector activity showed a modest slowdown in the pace of growth in September. The services PMI dipped to 54.9 after rising to 55.4 in August, although a reading above 50 still indicates growth. The services PMI gave background after reaching its highest level since hitting 56.1 in February in the previous month. The modest pullback by the headline index came amid a notable decrease by the business activity index, which slumped to 56.5 in September from 61.7 in August.
The new orders index also slipped to 59.8 in September from 60.9 in August, indicating a slowdown in the pace of growth in new orders. Meanwhile, the employment index climbed to 50.1 in September from 47.8 in August, moving into expansion territory for the first time in three months. The Employment Index's first reading above 50% in three months seems to have resulted from increasing backlogs, as well as high levels of business activity and new orders.
Although business activity and new orders growth rates have eased a bit, the Backlog of Orders index hit its highest level since July 2022’s 58.35%. On the inflation front, the prices index climbed to 74.0 in September from 72.6 in August. The prices index also reached its highest level since July 2022.10/05/2026 - 10:32:00 (RTTNews)
Euro traded at 1.1211 against USD at 9:00 AM PST
The euro area private sector expanded at the fastest pace in nearly three-and-a-half years in September amid rising demand and employment. The composite output index posted 53.1 in September and above August's 52.0. Both the manufacturing and service industries expanded at faster rates in September. The services Purchasing Managers' Index (PMI) rose to 53.0, as initially estimated, from 51.6 in August.
Composite demand improved at the fastest pace in 41 months and orders from foreign clients rose at the sharpest rate in over four-and-a-half years. For the first time since June 2022, backlogs increased at eurozone companies. There was a marginal expansion in workforce numbers in September. However, business optimism remained subdued by historical standards. Finally, price pressures intensified in September. Input cost and output charge inflation rates accelerated sharply.
Among member states, Spain remained the fastest-growing economy in September. Germany's upturn accelerated further and was among the strongest seen since early-2022. Meanwhile, modest growth rates were seen for Italy and France.
Germany's business activity grew the most in almost a year. The final composite output index climbed to 53.8 in September, as estimated, from 51.8 in August. The services PMI posted 52.9 in September and down from 49.7 in the prior month. France's composite activity expanded at the fastest pace in more than two years in September. The final composite output index hit 51.1, up from 48.5 in August. The flash score was 51.2. The services PMI rose to 51.2 from 48.0 in the prior month.
Spain's private sector expanded for a fifth consecutive month in September. The composite index advanced to 56.8 from 55.8 in August. The rate of growth was the fastest since December 2024. The services PMI registered 58.3, up from 57.8 the previous month. Meanwhile, Italy's private sector grew at the slowest pace in three months. The composite PMI dropped to 51.0 from 53.6 in August. The services PMI posted 51.7 in September, down from August's 40-month high of 55.2. 10/05/2026 - 09:15:00 (RTTNews) Eurozone producer price inflation accelerated in August due to the sharp increase in energy prices. Producer prices increased 8.2% on a yearly basis in August, following July's 5.8% rise. Excluding energy, producer prices rose 3.4% after rising 3.1% in the previous month. Within producer prices, energy prices showed the biggest growth in August, up 21.0% from the last year.
Prices of intermediate goods increased 6.8% and capital goods prices moved up 2.6%. Prices of durable consumer goods rose 3.4%, while non-durable consumer goods prices fell 0.8%. On a monthly basis, producer prices grew 1.9% and were faster than the 1.6% rise posted in July. Producer prices in the EU climbed 1.9% monthly and advanced 8.0% from the previous year. 10/05/2026 - 05:37:00 (RTTNews)
British Pound traded at 1.3216 against USD at 9:00 AM PST
The upturn in U.K. service sector’s output sustained in September with the recovery in new work amid upbeat business expectations. The services Purchasing Managers' Index (PMI) registered at 52.1 in September, down from 52.5 in August. Higher levels of business activity were linked to a slight recovery in new work. While strong demand for technology services was reported, there were specific mentions of weaker demand from clients in the construction sector. Overall new orders grew at the slowest pace since the current sequence of expansion began in July. New business from abroad fell for the seventh successive month.
Job cuts continued across the service sector in September. Nonetheless, the rate of decline in workforce was the slowest since October 2025. The rate of input price inflation picked up to be the highest since June due to higher oil and gas prices. Consequently, service providers raised their output prices the most since May. Firms remained upbeat about business outlook, but the degree of positive sentiment eased from August's six-month high.
Further, the overall private sector output growth lost momentum in September as both manufacturing and service sectors reported softer growth. The final composite output index fell to 52.0 from 52.5 in August. The reading was above the flash estimate of 51.7. 10/05/2026 - 08:17:00 (RTTNews)
Japan's service sector expanded at a slower pace in September due to weaker increase in business activity and sales. The Final Services Purchasing Managers' Index (PMI) fell to 51.3 in September from a five-month high of 52.5 in August. The flash score was 51.6. Nonetheless, a score above 50.0 indicates expansion.
Customer demand was softer in September, while new export business continued to fall markedly. Service providers added more staff at a quicker pace in line with the rise in backlogs of work. Further, optimism towards the 12-month outlook for business activity hit the highest level since June.
Input costs continued to increase sharply but the rate of inflation slid to a six-month low. Prices charged by services companies increased again to one of the sharpest rates in history. Japan's total business activity grew at the softest rate in four months in September. The composite output index dropped to 52.3 from 53.5 in the previous month. The reading was below the flash estimate of 52.5. 10/05/2026 - 01:35:00 (RTTNews)
Singapore's retail sales growth moderated for the second month in a row. Retail sales climbed 0.7% year-on-year in August, slower than the 1.3% rise in July. Moreover, this was the weakest increase since the current sequence of growth began in February. The slowdown in growth was mainly driven by a 4.6% decline in sales of motor vehicles, parts, and accessories. Excluding the same, the total annual retail sales growth improved to 1.6% from 1.3%.
Sales of watches and jewelry contracted 2.7% from last year, and those optical goods and books dropped 0.5%. Conversely, sales of cosmetics, toiletries, and medical goods logged a double-digit growth of 11.2%, and demand for computer and telecommunications equipment was 10.7% higher. Sales at supermarkets and hypermarkets logged an increase of 1.6%, and there were 3.2% more sales at petrol service stations.
Online retail sales climbed 15.7% annually compared to 15.2% growth in July. The index for total food and beverage sales fell 1.6% yearly in August, slower than the 1.9% decline a month ago. On a monthly basis, retail sales decreased 1.0% in August, following a 0.6% increase in the prior month. 10/05/2026 - 03:18:00 (RTTNews)
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