European factories stumble; Asian factories grow
London/Singapore.- Factories in euro zone sank even more last month; on the other hand, manufacturing industry in Asia sped its pace to respond to growing demand from the United States and China, which left evidence of the increasingly wider gap between Europe and the rest of the world.
The main concern of European authorities is mainly regional deceleration, which is striking Italy and Spain bad, and now it seems to be rooting among central members, such as France and Germany.
This information meant a blow for Euro and undermined optimism, while a similar survey last Tuesday showed that growth pace in the US manufacturing sector went up a lot more than expected.
“Figures from Euro zone do not give any comfort. China’s economy is holding, but the debt crisis in Europe is hanging over growth and is affecting the whole world”, Peter Dixon from Commerzbank declared.
Source: El Economista | Date: 03/05/2012