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Euro Area Seen on Track for Steady Growth as Orders Accelerate

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German Sept. Services PMI Falls to 54.3

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The euro-area economy probably maintained its 0.4 percent rate of expansion in the third quarter and will continue to grow amid rising orders and backlogs of work, according to Markit Economics.

While a Purchasing Managers’ Index for manufacturing and services slipped to 53.9 in September from 54.3 in August, the third-quarter average stood at the highest level in more than four years, according to a report published on Wednesday. New orders grew at the fastest rate in five months and a gauge for the amount of raw materials bought by manufacturers stood at a 19-month high, signaling increasing production in the coming months.