22 May '11, 11pm

Recovery takes a breather via @cmswire

WASHINGTON - AFTER several strong quarters, the global economic recovery appears to be sputtering. In particular, the industrial sector, a key driver of the bounce-back from a historic worldwide recession, looks to be fraying. A report on US durables goods orders due on Wednesday should give fresh insight into manufacturing demand after an unexpected plunge in the Philadelphia Federal Reserve Bank's index of May factory activity caught investors by surprise. Economists are looking for a 2.2 per cent decline in durables orders for May, according to a Reuters poll. A closely watched measure of non-defence orders excluding aircraft, seen as a proxy for business investment, is projected to inch up just 0.2 per cent. The deterioration in US manufacturing is being exacerbated by a slowdown in Japan, which is essentially in recession in the wake of a devastating earthquake and ts...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

Tweets

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channelnewsasia.com 22 May '11, 1am

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channelnewsasia.com 19 May '11, 7am

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