European, Asian factories shake off Covid-19 gloom in August

London

FACTORIES across Europe and Asia continued to shake off the coronavirus gloom in August as the global economy is gradually emerging from a downturn triggered by the health crisis, thanks in part to massive fiscal and monetary stimulus programmes.

Surveys showing an expansion in manufacturing activity may reduce pressure on policymakers to take bolder steps to avert a deeper recession. Many analysts expect recovery to be feeble, however, as renewed waves of infections curb business activity and prevent some nations from fully reopening their economies.