Factory Growth Slows From China to Europe as Global Economy Ebbs |
| Bloomberg - Jun 1, 2011 |
Manufacturing growth from China to the euro region and the U.K. slowed in May, adding to signs that momentum is weakening in a global economy facing headwinds from rising commodity costs and regional shocks.
A purchasing managers’ index for China showed the slowest pace of expansion in nine months, while the equivalent measure for the euro area fell to a seven-month low. The U.K. gauge of factory growth was at its weakest in two years, Russia’s index signaled “near stagnation,” and reports from Poland to Hungary also showed a loss of manufacturing momentum.
The synchronized drop in global factory indicators is adding to evidence that the world’s economy is struggling to withstand the combination of rising oil prices, the aftermath of Japan’s earthquake and Europe’s sovereign debt crisis. Economists predict the U.S. Institute of Supply Management’s measure of factory growth due today will also signal weakening.
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- Posted: 2011-06-01 09:30:03
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