Business Surveys

business surveys: Output at British factories also surged last month, according to business surveys released on Thursday, while an index of China's massive manufacturing sector suggested the slowdown in the world's No. 2 economy may be stabilizing, according to Reuters. It probably does not, however, point to an imminent tightening of monetary policy. ECB President Mario Draghi on Thursday stressed that interest rates would remain at current lows or lower for an "extended time and NEW YORK/LONDON - U.S. manufacturing grew in July at its fastest pace in two years while European factories snapped a two-year run of declining output, suggesting a prolonged euro zone recession may be near its end. The data should hearten policymakers around the world, particularly those at the European Central Bank who have come under pressure to support an economy struggling to escape from the longest recession in the 17-country euro zone's history. (www.immigrantscanada.com). As reported in the news.