Non-oil private sector of Dubai was steady in June, the first time it did not contract since February, a survey showed on today, after the emirate lifted many restrictions to stem the spread of the new Covid-19.
The downturn in euro zone manufacturing was not as bad as initially thought in june after more economies in the bloc eased restrictions imposed to quell the spread of the coronavirus, a survey showed.
Factory activity of China likely rose for a second straight month in April 2020 as more businesses re-opened from strict lockdowns implemented to contain the coVID-19 outbreak, which has now paralysed the global economy.
Imports and exports of China likely fell in January after a brief rebound at the end of last year and a rapidly spreading virus outbreak could disrupt its global trade for months to come.
The United States manufacturing sector contracted in December by the most in more than a decade with order volumes crashing to near an 11-year low and factory employment falling for a fifth straight month, according to an industry report released on Friday.
A private sector purchasing managers’ index (PMI) showed a surprising pick-up in China’s factory activity on Friday, but this was in contrast to an official factory gauge the day before which pointed to a further deterioration.
In September, the ECB cut its deposit rate deeper into negative territory and said it would revive its bond-buying program indefinitely to cut borrowing costs and stimulate investment and growth in the euro zone.