The Times of India
November 1, 2012
NEW YORK/BEIJING: Private
US firms stepped up hiring last month and factories showed modest
improvement, surveys showed Thursday, while Asia's large economies
started to pick up after a year of slower growth.
The jury was out on whether the data signalled sustained improvement in the fragile global economy, though analysts said strength in the United States and China, the world's two biggest economies, was essential to overall economic well-being.
That's particularly so at a time when a debt crisis in the 17-country
euro zone has plunged several countries in the region into recession.
Reports on major euro zone countries are due on Friday and expected to
show continued economic contraction.
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