Business movement in Europe and china’s private sector continues to worryingly fall a there are strong fears that the global economy can once again land itself back into recession
The ever so prevailing service sector of Europe has seen an alarming reduction in the month of September for the first time in past two years. On Tuesday survey results showcased further contraction for the second month running in the manufacturing sector.
Even with the decision to decrease Jobless benefits in U.S, it would not lift the worries of plunging into recession once again
Jacob Oubina, RBC Capital Markets Senior U.S economist while speaking from New York said” This just adds to the plethora of bad news in recent weeks, and it is not good for the outlook,”
Figures from China’s once flourishing manufacturing market fell for the third month running, signifying that the world’s second largest economy do not stand in a position to provide cover for the Western economic troubles.
Rudy Narvas, senior economist at Societe Generale said “The economy is chugging along near stall speed, the jobless claims report gives more backing to the Fed’s decision yesterday to provide more stimulation,”
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