GLOBAL ECONOMY-Factory activity growth slows in Asia, Europe and U.S. in Nov

lunes 1 de diciembre de 2014 12:35 GYT
 

* Asian, euro zone and U.S. factory growth stalls

* Slower pace of growth comes despite price cutting

* Britain, India and Mexico rare bright spots

By Jonathan Cable, Wayne Cole and Sam Forgione

LONDON/SYDNEY/NEW YORK, Dec 1 (Reuters) - Manufacturing growth across Asia, Europe and the Americas eased in November as heavy price cutting failed to revive demand, surveys showed on Monday, providing more evidence that a feeble global economic recovery may be grinding to a halt.

Worryingly for policymakers at the European Central Bank, who are struggling to bolster growth and drive up dangerously low inflation, factory activity declined in the euro zone's three biggest economies: Germany, France and Italy.

"The concern is the ongoing lack of any real growth in the euro zone. We are dealing with very low price pressures, and when that comes with weak growth, like in the euro zone, it raises concerns," TD Securities head of global strategy, Richard Kelly, said.

Data vendor Markit said its final November manufacturing Purchasing Managers' Index (PMI) for the euro zone was 50.1, its lowest reading since June 2013, despite price cutting made possible by tumbling input costs.

That is barely above the 50 mark that separates growth from contraction and, in a sign that there is little prospect of improvement in December, new orders declined for a third month.   Continuación...