Eurozone factory growth stays weak in October

|By:, SA News Editor

The ECB's massive stimulus program has done little to spur manufacturing growth in the eurozone, as factories again resorted to cutting prices to boost trade.

Markit's final manufacturing PMI was 52.3 last month, only slightly up from September, but it has been above the 50 mark that separates growth from contraction for over two years.

"With factory production lacking vigor, employment growth sagging to an eight-month low and output prices falling at the fastest rate since February, it's easy to see why the ECB is considering additional stimulus," said Chris Williamson, chief economist at Markit.

Subscribe for full text news in your inbox