The injection of more money should increase the UK’s protection from the threat Europe’s debt crisis poses on the UK’s economy.
Switzerland, China, India and Australia rose in December, while German unemployment fell more than economists forecast as exports of cars and machinery boomed, reports today showed.
US manufacturing growth (NAPMPMI)accelerated more than economists forecast to the fastest pace in six months.
The factory production data indicate some resilience in the industry as European leaders work to flesh out their plan to end the debt turmoil that’s threatening to drag the region back into recession.
Commerce Minister Chen Deming saidyesterday January exports “cannot make us optimistic” and theInternational Monetary Fund warned this week a deterioration inEurope could cut China’s expansion rate almost in half this year.
“Everyone’s taking comfort from stronger exports to the Far East, but we’re going to see a much weaker first quarter in China,” said Chris Scicluna, head of economic research at Daiwa Capital Markets Europe in London.
“It’s a mixed picture. The general trend in the US is one of healing, but it’s hardly apicture of dynamism, and we’re looking at contraction in Europe.”.
Asian Rebound
A manufacturing purchasing managers’ index for India released by HSBC Holdings Plc and Markit Economics today rose to the highest level in six months in December.
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