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Bloomberg
Euro-zone manufacturing remained near the weakest in seven years last month, a poor start to the final quarter that raises pressure on the region’s governments to add fiscal stimulus to insulate the region from a worsening global slowdown.
Factories from China to the US are suffering from flagging demand. While a Purchasing Managers’ Index for the 19-nation euro region rose slightly, it shows the sector firmly in contraction. Job losses accelerated and order books deteriorated.
Germany with its export-reliant industry continued to be the principal source of frailty. Italy, Spain and Austria all also weakened.
“The goods-producing sector is on course to act as a severe drag on GDP again in the fourth quarter,†said Chris Williamson, a business economist.