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Asia's factories show signs of recovery but risks remain
The Straits Times
|September 03, 2024
Asian factories, including China's manufacturing sector, showed signs of a tentative recovery in August and chipmakers benefited from firm demand, private surveys showed on Sept 2, but economic headwinds loom.
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Analysts say prospects of slowing US growth, which is likely to lead to interest rate cuts by the Federal Reserve in September, and uncertainty over the outcome of the US presidential election cloud the outlook.
China's Caixin/S&P Global manufacturing managers' index (PMI) rose to 50.4 in August from 49.8 in July, the private survey showed on Sept 2, beating analysts' forecasts and exceeding the 50 mark that separates growth from contraction. The reading, which mostly covers smaller, exportoriented firms, shows a more optimistic view than an official PMI survey released on Aug 31, which indicated an ongoing decline in manufacturing activity in August.
Cette histoire est tirée de l'édition September 03, 2024 de The Straits Times.
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