Meanwhile, manufacturing activity in Europe contracted in June, wrapping up the weakest quarter for the goods-producing sector in six years, IHS data showed Friday. A similar survey of Japanese manufacturers also published on Friday found activity was at its worst in three years. U.S. manufacturers attributed the pullback to several factors, including escalating trade tensions, cooling global growth, slowing momentum after last year’s burst of investment and a tight labor market that is constraining production. In Europe, economists are divided on whether the factory slowdown is largely a consequence of disruptions to trade and investment or a more short-lived pause after a long expansion. The World Bank earlier this month lowered its forecast for global economic growth in 2019 to 2.6% from its January estimate of 2.9%, citing trade disputes and declining business confidence. Both the Federal Reserve and European Central Bank signaled this week they are considering cutting […]