Hypo Venture Capital Headlines: Global Manufacturing Displays Resilience to Europe’s Debt Crisis: Economy

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FOR IMMEDIATE RELEASEnew york city, New York, United States of America (Free-Press-Release.com) January 30, 2012 -- Manufacturing from the U.K. to India showed improvement in December, suggesting production is weathering strains from Europe’s sovereign debt crisis.
Purchasing manager indexes for the U.K., Switzerland, China, India and Australia rose in December, while German unemployment fell more than economists forecast as exports of cars and machinery boomed, reports today showed. U.S. manufacturing growth (NAPMPMI)accelerated more than economists forecast to the fastest pace in six months.

The factory production data indicate some resilience in the industry as European leaders work to flesh out their plan to end the debt turmoil that’s threatening to drag the region back into recession. TheInternational Monetary Fund may cut its 2012 global growth forecast this month after lowering it to 4 percent in September, when it predicted “severe” repercussions if Europe fails to contain its crisis.
“Everyone’s taking comfort from stronger exports to the Far East, but we’re going to see a much weaker first quarter in China,” said Chris Scicluna, head of economic research at Daiwa Capital Markets Europe in London. “It’s a mixed picture. The general trend in the U.S. is one of healing, but it’s hardly a picture of dynamism, and we’re looking at contraction in Europe.”