Euro zone business growth lost far more momentum than expected as it entered the final quarter of 2018, dragged down by waning orders that put a big dent in confidence, a survey showed on Wednesday, Reuters reports.
October’s disappointing survey is likely to concern policymakers at the European Central Bank, who are expected to end their bond-buying program in less than three months - despite a cocktail of political and trade concerns.
The slowdown comes amid an escalating trade war between the United States and China, a spiraling debt dispute in Italy and the prospect of tightening financial conditions.
“There is a broadening spread of factors which are dampening demand. The trade wars and tariffs are the most widely cited worry,” said Chris Williamson, chief business economist at survey compiler IHS Markit.