Asia’s biggest factory hubs saw further easing in demand in August as China’s slowdown weighed on the region and risks piled up in the global economy.
Purchasing managers indexes for Taiwan fell to 42.7 from 44.6 in July — its lowest since May 2020 — while South Korea’s fell to 47.6 from 49.8 — its lowest since July 2020 — according to S&P Global. Japan’s reading weakened to 51.5 from 52.1.
It was a mixed picture elsewhere in the region. Malaysia’s PMI reading slipped to 50.3 from 50.6, while gauges for the Philippines, Indonesia and Thailand all increased. A reading below 50 indicates a contraction, while anything above that level points to an expansion.
The data add to a highly uncertain environment for the global economy as…
