TOKYO : Asia's factory activity contracted in January as the boost from China's COVID reopening had yet to offset headwinds from slowing U.S. and European growth, surveys showed on Wednesday, underscoring the fragility of the region's economic recovery.China's factory activity shrank more slowly in Januar
TOKYO : Asia's factory activity contracted in January as the boost from China's COVID reopening had yet to offset headwinds from slowing U.S. and European growth, surveys showed on Wednesday, underscoring the fragility of the region's economic recovery.
But there is uncertainty about whether Asia can weather the hit from slowing global demand and stubbornly high inflation, some analysts say. China's Caixin/S&P Global manufacturing purchasing managers' index nudged up to 49.2 in January from 49.0 in the previous month, staying below the 50 mark that separates growth from contraction for a sixth straight month.
But supplier delays were less prevalent than at any time since February 2021, while input and output price inflation were the slowest in 16 months, the Japan PMI survey showed. "The immediate outlook for the South Korean manufacturing sector appears challenging," said Usamah Bhatti, economist at S&P Global Market Intelligence.
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