Export powerhouses from Asia are showing nascent signs of turning the corner after months of pandemic pummeling from lockdowns, border restrictions and supply-chain snarls, Bloomberg’s Brendan Murray wrote on Supply Lines..
A purchasing managers index (PMI) for Japan advanced last month alongside many others in the region. Amongst a flurry of IHS Markit figures released on 3 August was a survey that showed Taiwan posted its best reading since January, making it the rare economy in the region crossing into expansionary territory.
China’s Caixin manufacturing PMI, a gauge more focused on smaller export-oriented firms, rose more than forecast and reached the highest level since January 2011, the report read.
Meanwhile, manufacturing in India contracted for the fourth straight month. Factories also stayed in reverse in South Korea, though a separate report released Saturday showed that the export slump eased in July, thanks to demand for semiconductors.
However, despite the overall momentum revving up, several of the surveys showed that employment is still contracting in places like South Korea, Japan, and Taiwan.
Read more here.