Business Maverick: Asia’s factories gather some speed on China reopening roost

📆 01/03/2023 08:18:00
📰 dailymaverick

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Asia’s manufacturing activity showed signs of revival as China’s reopening provided a lift to the sluggish global economy, although the tailwinds weren’t enough to pull major exporters like Taiwan and Japan out of their slump.

The latest round of factory data adds to uncertainty as the global economy braces for a downturn, amidThe divergence continued to widen in the region’s factories in February, with Southeast Asia’s more domestically-driven economies forging on ahead with their expansion and North Asia’s export-oriented hubs lagging, data fromThailand posted a region’s best PMI reading of 54.8 last month as it ramped up manufacturing production and output. Vietnam’s gauge jumped sharply to 51.2 from 47.

The non-manufacturing gauge – which measures activity in both the services and construction sectors – increased to 56.3 from 54.4, better than a projected improvement to 54.9.

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