Tuesday, 2 June 2020

Europe's factories starting to recover, Asia's pain worsens

Europe's factories starting to recover, Asia's pain worsensEuropean manufacturers may be over the worst of a coronavirus-driven downturn, but Asia's pain deepened in May due to a slump in global trade, with export powerhouses Japan and South Korea seeing the sharpest falls in activity in over a decade, surveys showed. The new coronavirus pandemic - which has killed more than 370,000 people around the world - has wreaked havoc with supply chains and quashed demand as government-imposed lockdowns forced businesses to close and citizens to stay home. While factory activity still contracted sharply across Europe last month, purchasing managers said April lows had passed as governments on the continent began to ease the tough lockdown measures implemented to contain the spread of the virus.




from Yahoo News - Latest News & Headlines https://ift.tt/2Xk6wX7

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