Manufacturing in the United States grew last month at its fastest clip in nearly 2½ years but expansion in China's massive factory sector was slight and deep divergences persisted in euro-zone countries, surveys showed yesterday.
The data highlighted the uneven nature of the global economic recovery. Signs that China may be struggling were of particular concern with a partial US government shutdown and political crisis in Italy already stoking uncertainty in financial markets.
Both China's official purchasing managers' index and one compiled by HSBC showed manufacturing grew by less than expected last month.
Similar indices measuring the factory sectors in India, South Korea and Taiwan rose modestly.
"The question is, 'how sustainable is the recovery?'," said Haibin Zhu, the chief China economist for JP Morgan in Hong Kong, referring to the world's second-largest economy. "We are still cautious. We see the recovery peaking in the third quarter and slowing in the fourth quarter."
Analysts worry that China's economy, which has slowed this year, may not rebound as quickly as hoped. The central government is reluctant to implement strong stimulus policies for fear they could cause longer-term problems.
