Asia's factory activity slows in May as China Covid curbs weigh
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Saturday
August 13, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
SATURDAY, AUGUST 13, 2022
Asia's factory activity slows in May as China Covid curbs weigh

Global Economy

Reuters
01 June, 2022, 11:10 am
Last modified: 01 June, 2022, 11:10 am

Related News

  • ‘Core inflation in Asia might not last as long as in other countries’
  • Asia shares subdued, dollar encouraged by US rate risk
  • Savitri Jindal becomes the richest woman in Asia
  • Asian stocks rise on upbeat data, Fed hawks lift dollar
  • Some Asia economies may need rapid rate hikes to cool inflation - IMF

Asia's factory activity slows in May as China Covid curbs weigh

Reuters
01 June, 2022, 11:10 am
Last modified: 01 June, 2022, 11:10 am
Employees work on the production line during an organised media tour to a Schneider Electric factory in Beijing, China February 17, 2022. REUTERS
Employees work on the production line during an organised media tour to a Schneider Electric factory in Beijing, China February 17, 2022. REUTERS

Asia's factory activity slowed in May as China's heavy-handed coronavirus curbs continued to disrupt supply chains and dampen demand, adding to woes for some of the region's economies that are already under strain from surging raw material costs.

Manufacturers slowed activity last month in countries ranging from Japan to Taiwan and Malaysia, business surveys showed on Wednesday, a sign of the challenge policymakers face in combatting inflation with tighter monetary policy - without crippling growth.

China's Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) stood at 48.1 in May, up from 46.0 the previous month but staying below the 50-point threshold that separates contraction from expansion, a private survey showed.

The outcome was in line with Tuesday's official data that showed China's factory activity fell at a slower pace in May. While Covid curbs are being eased in some cities, they continue to weigh heavily on confidence and demand.

Lockdowns in China have snarled regional and global logistics and supply chains, with both Japan and South Korea reporting sharp declines in output.

Japan's manufacturing activity grew at the weakest pace in three months in May and manufacturers reported a renewed rise in input costs, the PMI survey showed, as the fallout from China's lockdowns and the Ukraine conflict pressured the economy.

The final au Jibun Bank Japan PMI fell to a seasonally adjusted 53.3 in May from the previous month's 53.5, marking the slowest pace since February.

"Both output and new orders rose at softer rates, with the latter rising at the weakest pace for eight months amid sustained supply chain disruption and raw material price hikes," said Usamah Bhatti, an economist at S&P Global Market Intelligence.

"Disruptions were exacerbated by renewed lockdown restrictions across China, and contributed to a further sharp lengthening of suppliers' delivery times."

Factory activity in the Philippines also slowed to 54.1 in May from 54.3 in April, while that for Malaysia fell to 50.1 from 51.6 in April, PMI surveys showed. Taiwan's manufacturing activity stood at 50.0 in May, down from 51.7 from April.

In a glimmer of hope, South Korea's exports grew at a faster pace in May than a month earlier, data showed on Wednesday, as a rise in shipments to Europe and United States more than offset the fallout from China's restrictions.

South Korea's monthly trade data, the first to be released among major exporting economies, is considered a bellwether for global trade.

Top News / World+Biz

Asia / factory

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The U.S. dollar over the globe.. DANIELE DAILLOUX/GAMMA-RAPHO VIA GETTY IMAGES
    The world is seeing how the dollar really works
  • Foreign Minister Dr AK Abdul Momen Photo: Collected
    Referred Bangladesh as 'heaven' in comparison to other countries: Momen
  • BFIU sought illegal money information from Swiss banks repeatedly: BB
    BFIU sought illegal money information from Swiss banks repeatedly: BB

MOST VIEWED

  • The U.S. dollar over the globe.. DANIELE DAILLOUX/GAMMA-RAPHO VIA GETTY IMAGES
    The world is seeing how the dollar really works
  • The Sierra Leone-flagged cargo ship Razoni, carrying Ukrainian grain, is seen in the Black Sea off Kilyos, near Istanbul, Turkey August 2, 2022. REUTERS/Yoruk Isik
    First Africa-bound grain ship arrives in Ukrainian port
  • The Boeing logo is pictured at the Latin American Business Aviation Conference & Exhibition fair at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker
    Potential hack for some Boeing planes fixed
  • Pedestrians walk across Nevsky Avenue in central Saint Petersburg, Russia May 28, 2022. REUTERS/Anton Vaganov
    Russian economy shrinks 4% in second quarter as sanctions weigh
  • The Boeing 787-10 Dreamliner sits on the tarmac before a delivery ceremony to Singapore Airlines at the Boeing South Carolina Plant in North Charleston, South Carolina, United States March 25, 2018. REUTERS/Randall Hill
    Wide-body jet demand humming again as Boeing 787 rejoins the fray
  • A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, September 26, 2019. REUTERS/Shannon Stapleton//File Photo
    Peloton to cut jobs, shut stores and raise prices in company-wide revamp

Related News

  • ‘Core inflation in Asia might not last as long as in other countries’
  • Asia shares subdued, dollar encouraged by US rate risk
  • Savitri Jindal becomes the richest woman in Asia
  • Asian stocks rise on upbeat data, Fed hawks lift dollar
  • Some Asia economies may need rapid rate hikes to cool inflation - IMF

Features

Toes and talons of Shikra. Photo; Enam Ul Haque

Shikra: A leopard with wings!

7h | Panorama
Photo: Noor-A-Alam

Around the world in 10 days: A chance to taste global cuisines

6h | Food
Lobbyists float ludicrous arguments to prevent tobacco control act amendment

Lobbyists float ludicrous arguments to prevent tobacco control act amendment

8h | Panorama
Will US-China tensions boil over?

Will US-China tensions boil over?

6h | Panorama

More Videos from TBS

What will happen after global warming?

What will happen after global warming?

1h | Videos
Who will clean 'space garbage'?

Who will clean 'space garbage'?

1h | Videos
Photo: TBS

Why you should update your Apple devices and ensure security

6h | Videos
Birds under increasing threat from plastic waste

Birds under increasing threat from plastic waste

7h | Videos

Most Read

1
Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 
Banking

Dollar crisis: BB orders removal of 6 banks’ treasury chiefs 

2
Photo: Collected
Transport

Will Tokyo’s traffic model solve Dhaka’s gridlocks?

3
Diesel price hiked by Tk34 per litre, Octane by Tk46
Energy

Diesel price hiked by Tk34 per litre, Octane by Tk46

4
Representational Image. Photo: Collected
Bangladesh

Air passengers should plan extra commute time to airport: DMP

5
Arrest warrant against Habib Group chairman, 4 others 
Crime

Arrest warrant against Habib Group chairman, 4 others 

6
File Photo: State Minister for Power, Energy and Mineral Resources Nasrul Hamid
Energy

All factories to remain closed once a week under rationing system

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net