Factory growth feeble in June, feeding global recession fears
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- Euro zone factory production fell for first time in two years
- China’s Caixin index expands at fastest pace in 13 months
- Lifting of China’s COVID lockdown helps factories recover
LONDON/TOKYO, July 1 (Reuters) – Global factory growth stalled in June as higher prices and a darker economic outlook left consumers wary of making purchases while China’s strict COVID-19 lockdowns and Russia’s invasion of Ukraine added to supply chain disruptions, surveys showed.
Economic slowdown risks in Europe and the United States have reinforced fears of a global recession and market concerns have increased that aggressive U.S. interest rate hikes to tackle soaring inflation will push the country into a downturn and cut global demand.
“Between central banks…