Euro zone factories surged to record high in April Factories have largely remained open during third wave of Covid infections
Mon, May 3, 2021, 11:12
Photograph: iStock
Euro zone factory activity growth surged to a record high in April, boosted by burgeoning demand and driving a rise in hiring, although supply constraints led to an unprecedented rise in unfulfilled orders, a survey showed.
While a third wave of coronavirus infections in Europe has forced some governments to shutter much of their dominant service industries, factories have largely remained open.
IHS Markit’s final Manufacturing Purchasing Managers’ Index (PMI) rose to 62.9 in April from March’s 62.5, albeit below the initial 63.3 “flash” estimate but the highest reading since the survey began in June 1997.
Chinese economy maintains stable recovery
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China s economy expands 18 3% in the first quarter
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China’s gross domestic product saw a growth of 18.3 per cent year on year in the first three months of 2021, highlighting how the world’s second largest economy has controlled and recovered from the coronavirus pandemic.
The GDP grew by 0.6 per cent when compared with the fourth quarter of 2020 and 10.3 per cent over that in the first quarter of 2019, China’s National Bureau of Statistics said in a statement. The economy grew by 6.5 per cent in the last quarter of 2020.
“Generally speaking, the national economy in the first quarter presented continued momentum of stable recovery,” the National Bureau of Statistics said. “However, we must be aware that the Covid-19 epidemic is still spreading globally and the international landscape is complicated with high uncertainties and instabilities.”
Indonesia books trade surplus of US$1 57 billion in March 2021
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