Specifically, the manufacturing sector in China has remained weak, mainly due to the effects of additional tariffs imposed by the United States and the authorities' measures to push forward with  1  deleveraging.
As for Europe, production has declined since the second half of last year, mainly in Germany, partly reflecting the tightening of gas emission regulations on automobiles within the European Union (EU), and weaker exports to China also have been exerting downward pressure on the European economy.