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Asia's factories stay sluggish, stimulus lacks traction
Japanese manufacturing activity shrank in April at the fastest pace in more than three years as deadly earthquakes disrupted production, while output in China and the rest of Asia remained lukewarm at best. Even the former bright spot of India took a turn for the worse as both domestic sand foreign orders dwindled, pulling its industry barometer to a four-month trough. Surveys due later on Monday are expected to show only sluggish activity in Europe and the United States as the world's factories are dogged by insufficient demand and excess supply. "The backdrop remains one of sub-trend growth, inflation that is below ... (full story)