By Jonathan Cable and Leika Kihara
LONDON/TOKYO (Reuters) -Factories in the euro zone remained mired in contraction last month, surveys showed, with the data suggesting a recovery could be some way off but Asian and British manufacturers showed tentative signs of recovery.
However, analysts say prospects of slowing U.S. growth, which is likely to lead to interest rate cuts by the Federal Reserve this month, and uncertainty over the outcome of the presidential election there cloud the trade outlook.
HCOB’s final euro zone manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, stood at 45.8 in August, just ahead of a 45.6 preliminary estimate but well below the 50 mark separating growth from contraction.
“The final August manufacturing PMI reading was yet another indication the recovery of the industrial sector will neither be immediate nor vigorous, as the euro zone index remains stuck in contractionary territory,” said…
