An employee at an automobile factory in Kawasaki, Japan. Reuters
The bitter trade war between China and the United States kept Asian factory activity mostly in decline in August, business surveys showed, strengthening the case for policymakers to unleash fresh stimulus to fend off recession risks.
Japan’s industrial output slipped for the second straight month in November, raising the likelihood the economy will contract in the fourth quarter due to slowing retail sales abroad and at home.
Japanese manufacturing activity shrank at the fastest pace in seven months in September, underscoring the broadening economic impact of the Sino-US trade dispute and keeping policymakers under pressure to step up stimulus.
Lufthansa announces a 20% cut in leadership positions and the reduction of 1,000 administrative jobs,
Following a Monday slide, the greenback was steady on most majors and clung on near a two-week low against a basket of currencies , tracking the mood in equity markets.
By category, production of machine tools were up 27.6 per cent on the month, intermediate goods stagnated at 0.1 per cent and consumer goods were up slightly at 1.4 per cent, the Destatis official statistics agency said.