Asian manufacturing contracts, sparking global recession fears
Higher trade tariffs will take their toll in the coming months, with the sudden escalation in the Sino-US trade war not helping matters
03 June 2019 - 17:20
Hong Kong — Factory activity contracted in most Asian countries in May 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...
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