Asian manufacturing under pressure

VTV.vn - Newly released figures show that major Asian manufacturing centers continued to face weak demand in November.

Asian manufacturing under pressure

The Purchasing Managers’ Indexes (PMIs) released on December 1 showed mixed manufacturing sentiment across the region. While mainland China, Japan, South Korea and Taiwan (China) all recorded contractions in manufacturing activity, Southeast Asian economies saw growth.

In China, the world's largest factory, private sector PMI survey results showed manufacturing activity returned to contraction territory. A day earlier, official data from the Chinese government also showed manufacturing activity fell for the eighth consecutive month, although the rate of decline slowed somewhat.

In a report, Zichun Huang, China economist at Capital Economics, said that container volumes at Chinese ports were largely unchanged last month compared with October. Even if demand improved, this did not provide much support to manufacturing activity due to already high inventory levels, causing the output index to fall to a four-month low. Ms. Huang also pointed out that although the output price component edged up slightly, it remained low, suggesting that deflationary pressures remained persistent.

In Japan, the PMI showed new orders continued to fall, extending a two-and-a-half-year slump, blamed on a gloomy global business environment, tighter client budgets and cautious capital investment.

Official data released on December 1 also showed that Japanese businesses' spending on factories and equipment rose 2.9 percent in the July-September period from a year earlier, but the pace slowed from the previous quarter.

Similarly, manufacturing activity in South Korea contracted for a second straight month in November, despite the completion of a trade deal with the US providing some policy clarity for manufacturers. Other data showed South Korean exports rose for a sixth straight month in November, beating market expectations, boosted by record chip sales on strong tech demand, and a surge in auto exports following the signing of the trade deal with the US.

A downward trend in manufacturing activity was also recorded in Taiwan, but the pace has slowed.

Meanwhile, manufacturers in emerging markets in Asia remain bright spots. Both Indonesia and Vietnam have recorded strong growth in manufacturing activity, while Malaysia has also regained momentum.

India's manufacturing growth has slowed from October's high. However, the country's PMI remains well above regional peers, in line with other indicators pointing to strong growth in Asia's third-largest economy.

Data released last week showed India's gross domestic product (GDP) grew at its fastest pace in 18 months in July-September, boosted by robust consumer spending.

Source: https://vtv.vn/nganh-san-xuat-chau-a-chiu-nhieu-suc-ep-100251202114846649.htm