Eurozone manufacturing growth in Nov stalls; new orders sink

London

EUROZONE manufacturing growth stalled in November and new orders fell at the fastest pace in 19 months despite heavy price cutting, painting a bleak picture for the coming months, a survey showed on Monday.

Also 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 bloc's three biggest economies of Germany, France and Italy. "The situation in euro area manufacturing is worse than previously thought... There is a risk that renewed rot is spreading across the region from the core," said Chris Williamson, chief economist at survey compiler Markit.