Charting the Global Economy: US, European Manufacturing Expands
Workers assemble on the production line at a manufacturing facility in Ellabell, Georgia, US.
Photographer: Elijah Nouvelage/BloombergManufacturing in the euro area emerged from a three-year downturn while factories in the US expanded by the most since 2022 as demand picked up, separate surveys showed this week.
Weekly applications for unemployment insurance in the US rose to the highest level since June. Federal Reserve Chair Jerome Powell on Friday acknowledged rising risks for the labor market that “may warrant adjusting our policy stance,” which fueled a market rally and bets that the central bank will cut interest rates when it meets next month.