ST: Euro-Area factories see orders weakening as UK demand falters
LONDON (BLOOMBERG) - New orders at euro-area factories rose at the weakest pace in 18 months in August as both domestic and export demand faltered amid heightened uncertainty after the United Kingdom voted to quit the European Union.
A Purchasing Managers Index for manufacturing fell to a three-month low of 51.7 in August from 52 in July, IHS Markit said Thursday. The decline, which was steeper than initially estimated, was driven by a slowdown in order growth. The measure remained above the 50 level that divides expansion from contraction.
"Euro-zone manufacturers reported a wavering performance in August, with signs that growth could slow further in coming months," said Chris Williamson, chief business economist at IHS Markit.
