Weak factory activity in U.S., Europe and Japan dent hopes for a global economic recovery GlobeBusiness
“No other factor shapes the euro zone business cycle more than the ups and downs of global trade,” economists at Berenberg, a bank said.
The manufacturing downturn was partly offset by stable – but relatively weak – growth in the euro zone’s dominant services industry.IHS Markit, which published the surveys, said the PMIs pointed to first-quarter economic growth of 0.2 per cent in the euro zone, below the 0.3 per cent predicted in a Reuters poll last week.
The headline Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index was a seasonally adjusted 48.9, the same as February’s final reading.
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