In the news: Global shock as manufacturing contracts in US and - TopicsExpress

In the news: Global shock as manufacturing contracts in US and China: “Manufacturing has begun to contract in the US and China for the first time since the Lehman crisis, raising fears of a synchronized downturn in the world’s two largest economies. “The closely-watched ISM index of US factories tumbled through the ‘boom-bust line’ of 50 to 49, far below expectations. It is the lowest since the depths of the crisis in mid-2009 and a clear sign that US budget cuts are starting to squeeze the economy. "The news came hours after HSBC said its index for China also fell below 50, a major inflexion point for the world’s industrial workshop. ... See More

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