Day: June 29, 2020

China’s factory activity likely slowed in June on subdued global demand

Underscoring persistent pressure on the manufacturing sector, China’s producer prices fell by the sharpest rate in more than four years in May.

China’s factory activity likely grew for the fourth month June but the pace may be waning, as global demand stayed subdued while a fresh coronavirus outbreak in the Chinese capital and rising worldwide cases threaten to undermine a gradual domestic recovery.

The official manufacturing Purchasing Manager’s Index (PMI), due for release on Tuesday, is expected to ease to 50.4 in June, from 50.6 in May, according to the median forecast of 29 economists polled by Reuters. A reading

Airbus to make fewer aircraft; output won’t return to normal for several years

Airbus has till now said it was cutting output by a third on average. (Reuters photo)

Airbus plane output will be 40% lower for two years compared to pre-crisis plans, its chief executive said in remarks published on Monday, underscoring the threat to jobs as it draws up rapid restructuring plans due to a travel slump.

Reuters reported on June 3 that Airbus was looking to hold underlying jet output at 40% below pre-coronavirus pandemic plans for two years as the basis for the restructuring.

“For the next two years – 2020/21 – we assume that production and deliveries will