Manufacturing will get a temperature check from closely-watched measures of activity for Europe and Asia, an opportunity to gauge whether a nascent recovery in factory output is gaining traction. A recent uptick in a global index of manufacturing — to the highest level since mid-2022 — has spurred expectations the sector has reached a turning point after a broad consumer shift away from purchases of goods in favor of services. “We believe that manufacturing activity has troughed and should improve on the back of resilient global growth and the arrival of central bank rate cuts in 2024,” Goldman Sachs Group Inc. ... (full story)