The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.
Purchasing managers indexes (PMIs) suggested the aggressive actions taken by the world's central banks over the last two months have yet to convince consumers to start spending again.
The chances have dwindled of the euro zone in particular seeing growth again before next year.
Falling new orders and more layoffs marked a worsening decline for euro zone companies, the PMIs showed, while growth of China's normally robust services weakened to an almost two-year low last month.
Economic data in the United States were cheerier in tone, however.
The pace of growth in the massive U.S. services sector picked up more than expected in September on the back of new orders, according to an industry report. And a private sector employment report showed companies added more staff than expected last month, although it revised down the number hired in August.
Read more: http://www.reuters.com/article/2012/10/03/us-global-economy-idUSBRE8920FY20121003
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