GLOBAL ECONOMY-Factory activity slows worldwide in February despite price discounting

Tue Mar 1, 2016 11:31am EST
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(Adds data for U.S., Canada and Latin America, writes through)

* Global manufacturing weakness points to poor Q1 economic growth

* China sees 7th month of manufacturing contraction

* Euro zone factories cut prices at steepest rate since mid-2013

* Manufacturing weak in North and South America

By Jonathan Cable and Ian Chua

LONDON/SYDNEY, March 1 (Reuters) - World manufacturing sector growth stagnated in February as falling prices failed to stimulate new orders, pushing factories to trim workforces, and dealing a blow to policymakers who are struggling to stimulate their economies.

Manufacturing output across much of Asia shrank in February while waning throughout Europe and remaining sluggish in the U.S., according to surveys of purchasing managers on Tuesday.

JPMorgan's Global Manufacturing Purchasing Managers' Index (PMI), produced with data vendor Markit, slipped to 50.0 last month, right on the level that separates growth from contraction, and down from 50.9 in January.   Continued...