Home World News Asia’s manufacturing sector slowed down in February, Taiwan weakened slightly

Asia’s manufacturing sector slowed down in February, Taiwan weakened slightly

Asia’s manufacturing sector slowed down in February, Taiwan weakened slightly

Asia’s manufacturing boom stalled in February, and Taiwan’s surge slightly accelerated its contraction, due to sluggish demand in China and continued supply chain disruptions on key shipping routes.JapanThis contraction was the largest in three years.Southeast AsiaNot much has changed.

Overall, North Asian manufacturers reported lower output and new orders in February, driven by weak consumer spending at home and abroad. Taiwan’s manufacturing purchasing managers’ index released by S&P Global fell slightly to 48.6 in February, down from 48.8 in January. This was the 21st consecutive month that the stock fell below the 50 level, which symbolizes prosperity and contraction.

Annabel Fiddes, associate director of S&P Global Market Intelligence Economics Research, said that although Taiwanese manufacturers’ output, new orders and purchasing activities in February were still in contraction range, the decline was still lighter than last year’s average, which reflects operational prosperity. Reflects. It is close to flat levels, and business confidence remains strong, and production prospects are optimistic. Employment growth has been recorded for two consecutive months.

Japan’s manufacturing PMI fell to 47.2 in February, the lowest since August 2020. It was the ninth consecutive month that the manufacturing boom declined. Both production and new orders indicators fell to their lowest levels in a year. Factors cited by respondents included weak sales domestically and abroad, as well as production delays due to machinery shutdowns. Usama Bhatti of S&P Global Market Intelligence said evidence suggests that Hon Hai conditions and the impact of the Noto Peninsula earthquake have disrupted logistics.

Japan’s export sales also continued to decline last month and are still in contraction territory. Exports to the United States, Europe and China remain sluggish. Trade operators have reduced purchasing activities for 19 consecutive months due to a lack of new orders and high inventories. ,

China’s official manufacturing PMI fell to 49.1 in February, the fifth consecutive month of contraction. The Caixin manufacturing PMI, which reflects small and medium-sized enterprises, rose slightly to 50.9, the highest in six months and better than expected. The new export orders sub-index reached a one-year high, and business optimism was the highest in ten months.

There was not much change in manufacturing sentiment of major Southeast Asian economies in February. Indonesia’s manufacturing PMI fell slightly to 52.7 in February and the Philippines rose slightly to 51.vietnamIt rose slightly to 50.4, and the economy continued to expand. Malaysia improved to 49.5, easing the contraction, but Thailand fell to 45.3, its lowest since December last year.

The World Trade Organization (WTO) has warned that global trade will perform worse than expected this year due to unexpected economic headwinds and renewed protectionism. Demand remains moderate in major economies, and shipping industries such as the Red Sea and the Panama Canal have been disrupted.

Finance(TagstoTranslate)Japan(T)Southeast Asia(T)Vietnam