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.
China’s factory-gate prices shrank at the sharpest pace in three years in August, falling deeper into deflationary territory and reinforcing the urgency for Beijing to step up economic stimulus as the trade war with the United States intensifies.
An aerospace parts maker in California is struggling to procure cold-rolled steel, while an auto and appliance parts manufacturer in Indiana is unable to secure additional supplies of hot-rolled steel from mills in US.
South Korea is drafting an extra budget of 15 trillion won ($13.38 billion), it said on Tuesday, to boost support for small businesses and safeguard jobs as the resurgent coronavirus forces the government to retain social distancing
Business morale in Germany is higher this month than it has been in almost two years, as rising demand for manufactured goods keeps factories in Europe’s largest economy humming despite the pandemic and lockdown restrictions, a survey showed.
Annual profits at China’s industrial firms surged in the first two months of 2021, highlighting a rebound in the country’s manufacturing sector and a broad revival in economic activity from the coronavirus crisis early last year.
US factory activity slowed in early February likely as a global semiconductor chip shortage hurt production at automobile plants, while prices of inputs and manufactured goods soared,
The Department of Economic Development (DED) in Abu Dhabi said, “In order to fight off commercial counterfeits across Abu Dhabi, ADDED ran a field inspection campaign with the cooperation of the Abu Dhabi Police, who raided a factory producing counterfeit hand sanitisers bearing the trademark of a global brand and seized all of its contents.”
China’s factory activity grew at a slightly slower rate in February as factories closed for the Lunar New Year holiday, a Reuters poll showed, although growth is expected to remain firm, buoyed by an early resumption of production.