Euro zone businesses hit the brakes in October
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.