Asia’s factories signal more pain as China recovery falters


Thailand sees production growth but business confidence down to 15-month low

Employees sort cans of coconut milk at a production facility in Chonburi province, Thailand, on April 24, 2023. (Photo: Bloomberg)

SINGAPORE: Asia’s factories saw further easing in demand in May as China’s faltering recovery weighed on a region already smarting from a global trade downturn.

Purchasing managers indexes for export powerhouse Taiwan dropped to 44.3 from 47.1 in the previous month, while Vietnam registered the lowest reading since September 2021, according to S&P Global on Friday. South Korea’s factory gauge ticked up marginally in May although still remaining very much in contraction territory. A reading…

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