Surprise output rise aids stocks

first_img Surprise output rise aids stocks Share AN UNEXPECTED surge in manufacturing growth in two of the world’s largest economies yesterday soothed fears over the prospects for the global economy.The closely watched gauge of activity in US factories from the Institute for Supply Management defied expectations of a drop to jump to 56.3 last month from 55.5 in July, indicating the pace of output is beginning to pick up. China’s manufacturing sector also saw an unexpected recovery, after several months of slowdown, with the government’s purchasing managers’ index rising from 51.2 in July to 51.7 in August. A separate index compiled by HSBC bank rose from 49.4 to 51.9 rebuffing fears that government tightening measures would strangle growth.Both surveys reassured that the slowdown in the economy was not gathering pace triggering a rally in stock markets worldwide. The Dow Jones Industrial Average soared 2.5 per cent to 10,269.47 marking its best day for eight weeks, while the FTSE 100 jumped 2.7 per cent to 5,366.41. European stocks markets also shared in the exuberance – with Paris and Germany both gaining over two per cent. “While conditions will continue to cool as the year progresses, there looks to be sufficient traction remaining to sustain the recovery,” said David Hensley, director of global economics co-ordination at JPMorgan. Show Comments ▼ Wednesday 1 September 2010 8:53 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoHero Wars Advertisement This game will keep you up all night! Hero Wars UndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoLiver HealthAdvertisement 1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndocenter_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org KCS-content Tags: NULL whatsapp whatsapplast_img

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