Economics
Carmakers on the Trade-War Front Line as Europe Factories Suffer
- IHS Markit composite index falls, led by manufacturing
- Slowdown also fueled by Brexit, waning global demand
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Europe’s factories saw export growth stagnate this month as the economy feels the pinch from the global trade war that’s continuing to ratchet up.
The auto industry -- targeted by U.S. President Donald Trump -- is taking the brunt of the slowdown in demand, according to IHS Markit’s latest monthly survey. Overall manufacturing in the euro area grew the slowest pace in two years in September and new export orders failed to rise for the first time since 2013.