Last month manufacturing slowed worldwide, signaling the possibility of another recession. A series of surveys reported by Reuters show that factory activity around the globe has stalled.
In the euro area, the Purchasing Managers’ Indexes showed manufacturing activity contracted for the first time in almost two years in August. That echoed earlier data from South Korea and Taiwan, where new export orders fell sharply. Britain’s manufacturing sector shrank at its fastest pace in over two years, hurt by a sharp drop in demand for exports, and figures due later
Reports out later today are expected to show a bad August for U.S. manufacturing activity, reports the Associated Press. "Economists forecast that manufacturing activity fell in August for the first time in more than two years. That's a worrisome sign because manufacturing has been one of the strongest parts of the economy since the recession ended." In light of the possible forecast, stock futures are falling.
This article is from the archive of our partner The Wire.