The global industrial recovery remains patchy and may be losing momentum, a raft of reports released yesterday suggested.
Surveys of purchasing managers in the manufacturing sector released in the US, the eurozone, Britain and across Asia showed that while industrial output continued to expand, it had slowed from the rapid pace of earlier months.
The purchasing managers’ index for the eurozone in July was revised slightly higher from a preliminary estimate. But while it showed few signs of the recovery stalling, the survey revealed that growth was heavily dependent on Germany’s export-driven manufacturing sector. Growth prospects remained weak elsewhere, with the French index dropping to the lowest for 10 months.
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