Manufacturers across a swath of Europe and Asia have recovered much of the ground lost during the coronavirus-induced lockdowns earlier this year, but an uncertain outlook, driven in part by a resurgence in infections in the eurozone, has pushed many to continue to cut jobs.
Meanwhile, unemployment in the eurozone edged up in August, despite heavy government subsidies aimed at saving jobs and businesses.
Surveys of manufacturers released Thursday indicated that in many countries, much of the output lost during lockdowns in the second quarter was recovered in the three months through September as restrictions were eased.
However, that recovery hasn’t been uniform and manufacturers remain uncertain about their prospects, causing them to continue cutting jobs but at a slower pace than previously.
Manufacturers also reported fresh growth in export orders as international trade normalized after the disruptions to transport and other links in the supply chains during the spring.