Manufacturing slump eases as world emerges from pandemic

In its latest projections, the International Monetary Fund expected the global economy to shrink 4.9% this year and rebound just 5.4% next year.

LONDON/TOKYO/WASHINGTON: A slump in global manufacturing showed signs of easing in June as a rebound in Chinese and U.S. activity offered some hope the world's two largest economies may have passed the worst of the devastation caused by the novel coronavirus pandemic, while the collapse in European factory activity abated.

But sluggish global demand, the worsening U.S. outbreak and fears of a second wave of infections elsewhere will tame any optimism on the outlook and keep pressure on policymakers to support their ailing economies.