Eurozone economy slows amid trade decline and Brexit fears

German private sector shrinks, contributing to wider manufacturing recession

The eurozone economy came close to stalling in September after declines in global trade and the threat of a no-deal Brexit triggered the fastest fall in manufacturing output in nearly seven years.

Germany was the main driver of the slump after a survey of private sector activity found that the growing threat to international trade from the tit-for-tat US-China trade war had left it in the worst position since 2009.