Factory activity contracted across Asia and Europe in July, fuelling worries a p...
LONDON/HONG KONG - Factory activity contracted across Asia and Europe in July, fuelling worries a prolonged U.S.-China trade war and an economic slowdown could tilt the world toward recession, which central banks would have to fight with depleted ammunition.
Earlier figures from Germany, Europe’s largest economy, showed a recession among its manufacturers deepened. France and much of the rest of the euro zone also faltered. New Prime Minister Boris Johnson has promised to take Britain out of the European Union on Oct. 31, regardless of whether he can secure a revised transition deal with the bloc.
The Bank of Japan and the ECB have signaled their readiness to ease, although they have less room to move than the Fed.
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