HomeNewsNewsGLOBAL ECONOMY Asia’s factory activity weakens on global slowdown, cost pressures

GLOBAL ECONOMY Asia’s factory activity weakens on global slowdown, cost pressures

  • Japan Aug PMI marks weakest growth since Jan last year
  • Manufacturing activity shrinks in Taiwan, Malaysia
  • Slowing China, U.S. demand weighing on Asia’s economies

TOKYO, Oct 3 (Reuters) – Asia’s factory output mostly weakened in September as slowing demand in China and advanced economies added to the pain from persistent cost pressures, surveys showed on Monday, clouding the region’s economic recovery prospects.

Manufacturing activity shrank in Taiwan and Malaysia, and grew at a slower pace in September compared with August in Japan and Vietnam, as rising raw material costs and the darkening global outlook weighed on corporate sentiment.

The surveys came after China’s factory and services activity data on Friday pointed to further cooling in the world’s second-largest economy as strict COVID lockdowns disrupted production and dampened sales. read more

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