Asian Stocks Affected by Weak China Manufacturing

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sparks-692122_1280Two surveys showed that manufacturing in China was down in July. But despite this European stocks mostly rose.

“China will have several hard questions asked of it over the week, feeding into the concern it’s facing a hard landing,” said IG market strategist Evan Lucas in a report.

Investors were looking ahead to surveys of manufacturing and consumer spending due out Monday, factory orders Tuesday and data on employment and payrolls on Friday. The Labor Department reported Friday that U.S. wages and benefits grew at their slowest pace in 33 years in the spring. A sudden surge in supply chain it can help to outsource your manufacturing to a contract manufacturing company. That suggests companies are able to find workers without boosting pay, which could cause the Federal Reserve hold off any increase in interest rates.

Find out more at CBS Money Watch.

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