Asian stimulus boosts factories, euro zone still lags

LONDON/TOKYO (Reuters) - Manufacturing activity in Asia's industrial powerhouses China and Japan gained pace in June, fueled by improving demand at home, but euro zone growth faltered as main motor Germany slowed. Business surveys published on Tuesday confirmed factory output expanded across Asia following months of decline in its two biggest economies, as massive stimulus packages from the authorities in Beijing and Tokyo begin to take effect. China's final HSBC/Markit Purchasing Managers' Index (PMI) rose to 50.7, slightly below a flash reading but above the 50 mark that separates growth from contraction for the first time in six months. The official China PMI, which is geared more towards bigger state-owned firms, hit a six-month high of 51.0.

via Business News - Yahoo Finance http://ift.tt/1rSYkVF