KONTAN.CO.ID - SYDNEY. Asia's factory activity weakened in December, portending a shaky start for the region's manufacturing powerhouses in 2024 as China's patchy economic recovery impeded a broader revival in demand. A range of purchasing managers' indexes (PMIs) published by S&P Global on Tuesday showed factory activity continuing to decline in most Asian economies at the end of last year and confidence broadly sagging. The struggles for Asia's tech-heavy economies persisted with South Korean factory activity dipping back into decline and Taiwan extending its contraction for the 19th straight month, the PMIs showed.
Asia's Factories End 2023 on Soft Note Amid Fragile China Recovery
KONTAN.CO.ID - SYDNEY. Asia's factory activity weakened in December, portending a shaky start for the region's manufacturing powerhouses in 2024 as China's patchy economic recovery impeded a broader revival in demand. A range of purchasing managers' indexes (PMIs) published by S&P Global on Tuesday showed factory activity continuing to decline in most Asian economies at the end of last year and confidence broadly sagging. The struggles for Asia's tech-heavy economies persisted with South Korean factory activity dipping back into decline and Taiwan extending its contraction for the 19th straight month, the PMIs showed.