An auspicious end to the latest trade talks in Beijing this week... Where the US side spoke of 'productive meetings' with Chinese counterparts.

But for the euro zone's latest factory data, it's third time unlucky.

After sharp contractions in February and March, April is now confirmed as another month where activity slowed.

At 47.9, the PMI reading beat March's six-year low - but was still over 2 points below the 50 level where growth begins.

France, at 50, was flat - and Spain saw its best month since January.

But Germany shrank for a fourth month running - as its all important car industry struggled to adjust to new, stricter emissions rules.

(SOUNDBITE) (English) U.S. TREASURY SECRETARY STEVEN MNUCHIN, SAYING: REPORTER ASKING: "Did you meet with Vice Premier Liu last night?" MNUCHIN: "We did." REPORTER: "How did that go?" MNUCHIN: "A very nice working dinner.

Thank you." Overall, though, the sector's focus is on the global trade tensions hitting demand ... and there are signs of a possible breakthrough.

A US official said the China-US negotiations were likely to conclude within weeks - quote - "one way or the other." If successful, it would be timely: the PMI survey shows, its compilers say, manufacturing still in 'deep decline' .... After seven months of falls in new orders.