Global manufacturing is clearly on the rebound, with survey reports yesterday showing activity contracting at a significantly slower pace in the US and continental Europe, and UK industry back on a growth path.
The upbeat results added to evidence that the world's main economic regions stabilised in July, bringing closer the prospect of growth resuming.
“Everyone is benefiting from improvements in all their export markets – so it is magnifying the impact,” said Chris Williamson, chief economist at Markit, which produces purchasing managers' surveys for Europe and Asia.
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