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Manufacturing growth slowed across Asia in Jan ahead of Trump's tariffs
The Straits Times
|February 04, 2025
Factories across Asia expanded at a lacklustre pace in January as demand cooled, ahead of a trade war that US President Donald Trump kicked off on the weekend.
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HONG KONG -
The purchasing managers' index (PMI) gauge for manufacturing-heavy countries showed tepid activity, according to the S&P Global PMI that provides a snapshot of the region. In Vietnam, the index contracted further to 48.9 as output fell for the first time in four months, and in South Korea, activity improved slightly to 50.3, just above the 50-mark indicating expansion.
Across South-east Asia, activity fell to an 11-month low of 50.4. Five major economies including Japan showed a deterioration overall while South Korea, Indonesia and Malaysia showed slight improvement.
Manufacturing growth eased in China to the weakest in four months and below economists' expectations.
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