LONDON/TOKYO/WASHINGTON: A slump in global manufacturing showed signs of easing in June as a rebound in Chinese and U.S. activity offered some hope the world's two largest economies may have passed the worst of the devastation caused by the novel coronavirus pandemic, while the collapse in European factory activity abated.
But sluggish global demand, the worsening U.S. outbreak and fears of a second wave of infections elsewhere will tame any optimism on the outlook and keep pressure on policymakers to support their ailing economies.
Globally, the pandemic has infected more than 10 million people and killed more than 500,000. A resurgence in new cases in several countries, particularly the United States, has prompted some governments to backpedal on plans to reopen their economies and fueled concerns the worst is still to come.
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