- December 1, 2022
- Posted by: Stratford Team
- Category: Economy
- China’s private survey shows continued PMI contraction
- Factory activity shrinks in Japan, South Korea
- Surveys highlight darkening outlook for Asia next year
TOKYO, Dec 1 (Reuters) – Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China’s strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday.
The results highlighted Asia’s darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in its economy, the world’s second-largest.
Amid the pandemic curbs, China’s factory activity shrank in November, a private survey showed on Thursday. The result implied weaker employment and economic growth in the fourth quarter.
Manufacturing activity also contracted in export-reliant economies, including Japan and South Korea, and in emerging nations, such as Vietnam, underscoring widening damage from weak global…
