Manufacturing Slows Across the Globe
New reports show that manufacturing slowed across much of the globe in August, fueling new fears of a worldwide economic downturn.
One survey Thursday showed that manufacturing in the United States, the world's biggest economy, advanced slightly last month, but at a slower pace than in July. Elsewhere, the story was much the same, or worse.
Manufacturing in the 17-nation European bloc 1 that uses the euro currency contracted last month to its weakest point in two years. Britain's factory production dropped to its lowest level in 26 months. European economies are shrinking as governments reduce their spending in an effort to cut their deficits 2 and avoid the need for more international financial bailouts like those already secured by Greece, Ireland and Portugal.
Manufacturing in China, with the second biggest global economy, remained near a 29-month low. An index of its exports, a bulwark 3 of the Chinese economy, contracted for the first time since early 2009.
Factory production also dropped in South Korea, Taiwan and Australia.
Some financial analysts 4 say that Asian economies may inevitably 5 slow, because they are so dependent on selling their exports to Europe and the United States. As their economic fortunes wane 6, there will be less demand for Asian products.
Already, some companies are feeling the effect. South Korea's LG Display says demand for its flat-screen televisions has dropped, while China's Angang Steel says its profits have dropped sharply with less demand from automakers for its steel products.
In the United States, the Institute of Supply Management said manufacturers are concerned about international economic developments and that customers have been reluctant to place new orders. While U.S. manufacturing has not contracted, its pace has now declined for six straight months.
- A solid bloc of union members support the decision.工会会员团结起来支持该决定。
- There have been growing tensions within the trading bloc.贸易同盟国的关系越来越紧张。
- The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
- Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句
- That country is a bulwark of freedom.那个国家是自由的堡垒。
- Law and morality are the bulwark of society.法律和道德是社会的防御工具。
- City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
- I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。
- In the way you go on,you are inevitably coming apart.照你们这样下去，毫无疑问是会散伙的。
- Technological changes will inevitably lead to unemployment.技术变革必然会导致失业。