London, Oct 02: Manufacturers in Europe and Japan won more orders and made more goods in September, according to surveys on Wednesday, going some way to offset doubts about the strength of a US-led economic recovery. Surveys showed that in September, manufacturing businesses in Japan expanded at their fastest in 15 months. Euro zone manufacturing also unexpectedly returned to growth for only the second time in a year.
Meanwhile, the Bank of Japan’s tankan survey reinforced a picture of growing confidence, showing that the number of companies feeling better about business conditions outnumbered those that were gloomy for the first time in three years.

“It seems to be more of a consumer driven upturn... in Europe, Asia and the US,” said Chris Williamson at NTC Research.
But financial markets will be looking for reassurance from the equivalent surveys of US manufacturers. Major stock indices fell and safe-haven bonds soared on Tuesday when US consumer confidence data and a bellwether survey of Midwest manufacturers both showed surprising weakness. The overall US manufacturing survey, compiled by the Institute for Supply Management had been forecast to rise a little further above the 50 line that divides growth from contraction after registering 54.7 in August. However, some analysts were revising their forecasts downwards after Tuesday’s data. Bureau Report