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Demand slump drags global manufacturing to financial crisis levels(asia.nikkei.com)

posted 1 year ago

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☆ Yσɠƚԋσʂ ☆@lemmy.ml

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☆ Yσɠƚԋσʂ ☆@lemmy.mlOP

4 points

1 year ago

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Recent data point to a swiftly fading rebound in China from the reopening at end-2022, but GDP growth should still remain above the 2023 government target of 5% as consumption normalises and policy support buttresses infrastructure investment, says Fitch Ratings. We expect growth to hold up relatively well, albeit on a slowing trajectory, at 4.8% in 2024 and 4.7% in 2025..

Meanwhile, US economy has been buttressed by cannibalizing Europe where things are rapidly deteriorating.

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