Manufacturing growth in the eurozone was slower than expected in October with price cutting failing to lift orders, according to a survey.
The latest Markit Purchasing Managers’ Index of factory activity was 50.6, better than September’s 50.3.
But, although any reading above 50 indicates growth, the figure was below initial estimates for October.
Germany returned to modest growth, and Spain saw its eleventh straight month of growth. France and Italy contracted.
The data will be closely watched by the European Central Bank, which in September launched further stimulus measures to kickstart the eurozone’s flagging economy.
“The performance of eurozone manufacturing remained broadly flat at the start of the final quarter,” said Rob Dobson, senior economist at Markit.
He said: “Manufacturing is therefore unlikely to provide any meaningful boost to the currency union’s anaemic GDP growth.
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