Times Colonist

Europe crisis hits factories


SINGAPORE/ LONDON — Factory activity in Asia slowed to its weakest rate in nearly three years in October, while a decline in U.K. manufactur­ing provided the latest sign that Europe is on the brink of recession.

China’s official purchasing managers’ indexes fell to its lowest since February 2009, a survey showed Tuesday, reflecting a drop in new export orders — particular­ly from the EU.

Manufactur­ing in the U.K. declined at its fastest pace in two years in October, according to the Cips/markit factory PMI.

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