Factories across Europe, the U.S. and parts of Asia increased production in July, but the upswing was held back by weak overseas demand, suggesting a long and precarious road ahead for the global economy.
Export orders were soft across most of the countries surveyed in July by research firm IHS Markit, and activity contracted in two export powerhouses, Japan and South Korea. With the international outlook uncertain, manufacturers in most countries saved costs in July by cutting jobs.
