53.1: Eurozone grows at the fastest pace in 3 and a half years

WHAT HAPPENED

Eurozone activity rose to 53.1 points in September, up from 52.0 in August, its best level in 41 months. Services and factories grew, but companies also raised prices at the fastest pace since May.

WHY IT MATTERS

More orders, even from abroad, can boost hiring in tourism, technology, banks, consulting, and exporting factories. But with inflation at 3.8%, the cost of living continues to rise and the European Central Bank may take longer to lower rates.

AND FOR YOUR PORTFOLIO

For your wallet, this means a mix of more job activity and more expensive products: there may be better opportunities in growing sectors, but money goes less far. For long-term investments, growth and inflation will be forces that move companies and rates.