Eurozone manufacturing near stagnation

[BRUSSELS] The eurozone's manufacturing sector reported lacklustre activity in September, set back by a fall in production by Germany, a survey showed on Wednesday, adding to clouds over the single currency zone.

The latest survey of leading indicators from manufacturing industries in the eurozone, the purchasing managers' index (PMI), gave a reading of 50.3 points, down from 50.7 points in August and the lowest for 14 months.

The survey, by the Markit analysis group, is closely watched as a reliable indicator of future performance of manufacturing activity, and the new figures are likely to raise pressure on the European Central Bank to do more to avert deflation.