LIMOGES, France—French armored truck maker Arquus, specialized in manufacturing high-tech off-road military vehicles, has gone back to producing more low-tech undercarriages for howitzers as the ground war in Ukraine boosts demand for artillery. Despite an industry trend towards more high-tech weaponry like drones and autonomous missiles, traditional battlefield equipment like tanks and howitzers such as…
High-Tech French Army Truck Maker Sees Demand for Low-Tech Artillery Components
Abbott’s Medical Device Sales Hit by China Curbs, Supply Chain Issues
Abbott Laboratories on Wednesday reported lower-than-expected medical device sales for the fourth quarter as COVID-19 curbs in China and supply-chain issues hit its international operations. The company also flagged that medical devices sales would remain soft in the first quarter, mirroring similar comments a day earlier from rival Johnson & Johnson, which cited China’s COVID-19…
US Manufacturing Falls Deeper Into Recession, Factory Data Show
The American manufacturing sector fell deeper into recession last month, according to the latest factory data. December saw manufacturing slow to its slowest pace since the start of the pandemic, as demand remained low and production began to weakened, according to data from the Manufacturing ISM Report On Business® and the S&P Global U.S. Manufacturing PMI…
China’s Problem Is Lack of Demand, Which Is Not Easy to Boost
Commentary Now in 2023, China is again the focus of the economic outlook. Most forecasts, whether from the public or private sector, believe China will continue to be the key growth engine worldwide. Admittedly, China is producing a very high growth number compared to many other large economies. However, the 4-5 percent real GDP (year-over-year)…
China Trade Down on Weak Global Demand, Virus Curbs
BEIJING—China’s trade shrank in October as global demand weakened and anti-virus controls weighed on domestic consumer spending. Exports declined 0.3 percent from a year earlier to $298.4 billion, down from September’s 5.7 percent growth, the customs agency reported Monday. Imports fell 0.7 percent to $213.4 billion, compared with the previous month’s 0.3 percent expansion. China’s…
German Industrial Orders Drop in September as Foreign Demand Dives
BERLIN—German industrial orders fell by more than expected in September as foreign demand slumped, putting Europe’s largest economy on course for recession, data showed on Friday. New orders fell by 4.0 percent on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. A Reuters poll of analysts had pointed to…
Maersk Sees Container Demand Slowing as Recession Looms
OSLO—Shipping group Maersk warned on Wednesday of slowing demand for transport and logistics as a global recession looms and cut its forecast for container demand this year, even as it beat third-quarter earnings expectations. “It is clear that freight rates have peaked and started to normalize during the quarter, driven by both decreasing demand and…
Apple Is Cutting Back Production of iPhone 14 Plus Due to Weak Demand: TrendForce
Apple Inc. is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand for the mid-range model, market research firm TrendForce said Tuesday. The share of more expensive iPhone 14 Pro series has increased to 60 percent of the total output from…
Tesla Seeks to Ease Demand Concerns Over Likely 2022 Delivery Target Miss
Tesla Inc. said on Wednesday it expected to miss its vehicle delivery target this year, but downplayed concerns about softening demand after its revenue missed Wall Street estimates. Chief Executive Elon Musk told analysts on a conference call there was excellent demand in the fourth quarter, addressing investors’ concerns that buyers could be discouraged by…
Summer Saw Slumping Apartment Demand as Americans Put Off Moves
News Analysis Demand for apartments in the United States crashed this summer, with asking rents dipping in September and the number of renters moving out of apartments exceeding the number moving in during the third quarter. The surprisingly sharp drop in rental demand comes as home sales continue to weaken, suggesting that inflation and economic…
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