Manufacturing Cools Around the World - by Bettina Wassener
From Australia to Asia and Europe to the United States, the message on Wednesday in the latest economic reports was clear: manufacturing continued to slump amid the worst slowdown since the Great Depression. In Europe, a closely watched index of purchasing managers showed manufacturing hit a low in December, falling to 33.9 from 35.6. Any reading above 50 signals growth, while a reading below 50 indicates contraction in manufacturing. Similarly grim readings in Australia, China and India highlighted how the Asia-Pacific region has become caught up in the global turmoil. In China, the purchasing managers’ index by the brokerage firm CLSA showed the manufacturing sector had contracted for a fifth consecutive month. The survey showed the steepest decline in its history.
No comments:
Post a Comment