Fears of a fresh global recession have increased with latest data showing continued shrinkage in manufacturing levels around the world as trade war and Brexit concerns escalate. “There has been a marked slowdown in manufacturing activity globally this year, which is also evident in Ireland,” said AIB chief economist Oliver Mangan. In China, the Caixin/Markit Manufacturing PMI showed modest expansion at 50.2, offering investors some relief after a gauge on Friday showed contraction. Activity in Germany’s export-dependent manufacturing sector decreased in May, hobbled by both declining new orders and a sharp fall in employment. Growth in US manufacturing activity slowed in May to its weakest pace in over two years as factory managers raised concerns about the trade war.

Source: Irish Examiner June 04, 2019 06:00 UTC