'The world's economic outlook darkened on Friday as reports showed U.S. employment growth slowing sharply, Chinese factory output barely growing and European manufacturing falling deeper into malaise.
China Stalls
Declines in two gauges of China's manufacturing sector were particularly worrying for investors looking to the world's second biggest economy — the main engine of global growth in recent years — to pick up the slack created by Europe's debt crisis and the sluggish U.S. economy.
"What's really worrying is new orders have started to shrink and inventories have started to build up at an unusually fast pace," said Dariusz Kowalczyk, senior economist and strategist at Credit Agricole CIB in Hong Kong.
China's official purchasing managers' index — covering China's biggest, mainly state-backed firms — fell more than expected to 50.4 in May, the weakest reading this year and down from April's 13-month high, with output at its lowest since November 2011.'
http://www.cnbc.com/id/47648551