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Economics

Europe’s Factory Slump Heightens Recession Risk as Asia Mixed

  • Manufacturing gauge contracts for third consecutive month
  • Asia’s factories paint uneven recovery picture in September
Updated on

The manufacturing industry deteriorated further across Europe last month because of the impact of the war in Ukraine, while factories in Asia painted a mixed picture.

The purchasing managers index for the 19-nation euro zone, a gauge of private-sector activity, fell to 48.4 from 49.6 in August. That’s slightly worse than S&P Global’s initial reading and marks the third consecutive month below the 50 threshold that separates expansion from contraction.