The global manufacturing recovery appeared to have come to a grinding halt in August, activity surveys suggested on Thursday, undermining hopes of a vigorous economic recovery in the second half of the year.
Across Asia, Europe and the US, surveys of purchasing managers produced the lowest readings of manufacturing activity and orders since mid-2009, when the world economy was only crawling out of recession.
The figures, better than feared in the US, gave little reason to think the world economy would quickly recover from the twin summer political crises of the US debt ceiling debate and the wider loss of confidence in sovereign debt from the peripheral eurozone countries.
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