Factory output fell widely last month as slowing global demand and the impact of China's COVID-19 lockdowns weighed, although the downturn eased in Europe and activity in India actually picked up, surveys showed on Thursday.
While the surveys indicated that factories in the euro zone still face a harsh winter it may not be as bad as initially feared and there were signs rampant inflationary pressures were abating.
An index measuring output, which feeds into a composite PMI due on Monday and seen as a good guide to economic health, rose to 46.0 from 43.8, marking its sixth month of sub-50 readings. The figures added to signs Britain's economy has fallen into recession, although there was a glimmer of light for the Bank of England as factory output price inflation slowed to its lowest since March 2021.
Analysts see mounting downside risks to China's economic growth in the fourth quarter, despite a flurry of policies to shore up activity, including cuts to banks' required reserve ratios and support for the sluggish property sector.
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