{"id":1669126,"date":"2022-10-02T23:50:09","date_gmt":"2022-10-03T03:50:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669126"},"modified":"2022-10-02T23:50:46","modified_gmt":"2022-10-03T03:50:46","slug":"asias-factory-activity-weakens-on-global-slowdown-cost-pressures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asias-factory-activity-weakens-on-global-slowdown-cost-pressures\/","title":{"rendered":"Asia\u2019s factory activity weakens on global slowdown, cost pressures"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fasias-factory-activity-weakens-on-global-slowdown-cost-pressures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1669126&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Leika Kihara<\/p>\n<p>TOKYO (Reuters) \u2013     Asia\u2019s factory output mostly weakened in September as slowing demand in China and advanced economies added to the pain from persistent cost pressures, surveys showed on Monday, clouding the region\u2019s economic recovery prospects.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>Manufacturing activity shrank in Taiwan and Malaysia, and grew at a slower pace in September compared with August in Japan and Vietnam, as rising raw material costs and the darkening global outlook weighed on corporate sentiment.<\/p>\n<p>The surveys came after China\u2019s factory and services activity data on Friday pointed to further cooling in the world\u2019s second-largest economy as strict COVID lockdowns disrupted production and dampened sales. <\/p>\n<p>\u201cWe\u2019re seeing economic conditions deteriorate in China, the United States and Europe. That\u2019s definitely weighing on Asian manufacturing activity,\u201d said Toru Nishihama, chief economist at Dai-ichi Life Research Institute in Tokyo.<\/p>\n<p>\u201cWhile supply disruptions may have run its course, Asia is now suffering from slumping global demand.\u201d<\/p>\n<p>The au Jibun Bank Japan Manufacturing Purchasing Managers\u2019 Index (PMI) slumped to 50.8 in September from 51.5 in the prior month, marking the weakest growth rate since January last year.<\/p>\n<p>New orders shrank at the fastest rate in two years, while output posted its sharpest decline in a year due to weakening demand from China and other trading partners, Japan\u2019s PMI survey showed.<\/p>\n<p>\u201cWeakness in the yen is doing little to bolster export demand either and instead is pushing imported inflation up drastically and drove domestic price pressures up even further,\u201d said Joe Hayes, senior economist at S&#038;P Global Market Intelligence.<\/p>\n<p>Taiwan\u2019s PMI hit 42.2 in September, down from 42.7 in August and staying below the 50 mark that separates growth from contraction on a monthly basis.<\/p>\n<p>Vietnam\u2019s PMI fell to 52.5 from 52.7 in August, while that of Malaysia slid to 49.1 from 50.3, the surveys showed.<\/p>\n<p>Soaring inflation has forced U.S. and European central banks to embark on interest rate hikes, stoking fears of a sharp downturn in global demand that had underpinned Asian exports.<\/p>\n<p>China\u2019s slowdown has also clouded Asia\u2019s economic recovery. With few signs Beijing will significantly ease zero-COVID soon, many analysts expect China\u2019s economy to grow by just 3% this year, which would be the slowest since 1976, excluding the 2.2% expansion during the initial COVID hit in 2020.<\/p>\n<p>Data showed on Friday China\u2019s official PMI rose to 50.1 in September from 49.4 in August. But separate data showed China\u2019s Caixin\/Markit manufacturing PMI fell more than expected to 48.1 in September from 49.5 in August.<\/p>\n<p> (Reporting by Leika Kihara; Editing by Ana Nicolaci da Costa)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/asias-factory-activity-weakens\/attachment\/workers-at-mitchell-aerospace-a-manufacturer-of-light-alloy-sand-4\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI92043-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI92043-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Leika Kihara TOKYO (Reuters) \u2013 Asia\u2019s factory output mostly weakened in September as slowing demand in China and advanced economies added to the pain from persistent cost pressures, surveys<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1669126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1669126"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1669126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1669126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1669126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1669126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}