LONDON (Reuters) - Euro zone manufacturing activity remained mired in a deep and broad-based downturn last month, according to a survey which showed on ...
Church Brewing: where the customers are the congregation and the choir | SaltWireLONDON - Euro zone manufacturing activity remained mired in a deep and broad-based downturn last month, according to a survey which showed on Monday that demand kept shrinking at a pace rarely surpassed since the data was first collected in 1997.
An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, fell to 43.1 from 43.4. "In the race to the bottom, France and Germany are leading the way in the September PMIs. Meanwhile, Spain and Italy are pulling through somewhat less scathed."
That fall in demand came despite the three-month average of prices charged by factories decreasing faster than at any point in the survey's history other than during the Great Recession in 2008/2009, added HCOB's de la Rubia.
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