Second wave Covid-19 threatens manufacturing bounce back
2 September
Manufacturing activity is slowly returning to normal levels as countries begin to lift lockdown restrictions.
Howard Archer, chief economic advisor to EY ITEM Club, shared an article on the increase in global manufacturing levels.
Manufacturing activity increased to a 21-month high of 51.8 in August supported by stimulus packages across Europe, Asia and North America.
However, the recovery is expected to be uneven as new waves of infections curb business activity.
The resurgence of infections is discouraging companies to boost capital expenditure thereby delaying the rebound in the industry.
Experts note that recovery in manufacturing activity will grow at a modest pace, although China’s manufacturing activity has expanded at the fastest rate compared to other countries.