Europe's woes worsen as factories falterReported by Straits Times on Wednesday, 2 May 2012 (on May 2, 2012)
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LONDON: Euro zone factories sank further into decline last month, but manufacturers in Asia upped their tempo to meet growing demand from the United States and China, exposing a widening gulf between Europe and the rest of the world.
Worryingly for European policymakers, a downturn that is hitting Italy andSpain hard now appears to be taking root among core members France and Germany. The data hit the euro and dented optimism following a similar survey on Tuesday that showed the pace of growth in US manufacturing picked up much more than expected.
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