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Factory activity shrinks across Asia as US-China trade war escalates

Such growth indicators are likely to deteriorate further in coming months as higher trade tariffs take their toll on global commerce

Reuters  |  HONG KONG 

Factory activity contracted in most Asian countries last month as an escalating trade war between Washington and Beijing raised fears of a global economic downturn and heaped pressure on policymakers in the region and beyond to roll out more stimulus. Such growth indicators are likely to deteriorate further in coming months as higher trade tariffs take their toll on global commerce and further dent business and consumer sentiment leading to job losses and delays in investment decisions. Some economists predict a world recession and a renewed race to the bottom on interest rates if ...

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First Published: Mon, June 03 2019. 10:58 IST
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