Asia's factories squeezed as China's nascent recovery teeters
© Reuters. FILE PHOTO: Employees work at the production line of aluminium rolls at a factory in Zouping, Shandong province, China November 23, 2019. Picture taken November 23, 2019. REUTERS/Stringer/File Photo
China's Caixin/S&P Global manufacturing PMI fell to 49.5 in October from 50.6 in September, a private sector survey showed on Wednesday, falling back below the 50.0 point threshold that separates growth from contraction. "The economy has showed signs of bottoming out, but the foundation of recovery is not solid. Demand is weak, many internal and external uncertainties remain, and expectations are still relatively weak."
That came a day after official figures showed Japan's factory output rose much less than expected in September as demand slowed significantly.South Korea's factory activity fell for the 16th straight month while PMIs from Taiwan, Vietnam and Malaysia also showed continued declines in activity.
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