Even assuming that the IMF took some of the strain of such rescues, the increase in the implied indebtedness of Germany of rescuing both Italy and Spain would be in the order of well over 10% of its GDP or output.
Miners are pushing hard to increase their copper output in order to take advantage of the current market price, which is still relatively high.
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As Cato Institute economist Jagadeesh Gokhale finds, the average European country would need to set aside 8 percent of its economic output each year in order to fully finance future pension obligations.
That would put still further pressure on companies to slash output and prices in order to get rid of the mountains of unsold goods now cluttering stores and showrooms.
India is expected to become a net iron-ore importer in the fiscal year that began April 1 because of reduced output, but Thursday's order could mean a gradual turnaround in the situation.
The bulk of the strength was in the output and new order index.
In a statement issued without the usual summit to precede it, the G7 called on oil-producing countries to increase output in order to dampen oil prices, which have risen since June because of concern about a potential Israeli military strike on Iran.
"The key factors are an increase in output, productivity and order books due to increased demand, " said Melinda Johnson of the Chartered Institute of Purchasing and Supply, which carried out the survey.
In May Saudi Arabia boosted its output by 450, 000 barrels a day to 9 million barrels of oil in order to meet supply levels.
The company is aggressively trying to adjust the output at many of its steel producing plants as well as raw material resources in order to maintain profitability.
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