02 Aug '11, 3pm

Manufacturing growth slows across Asia

Manufacturing growth slows across Asia

SINGAPORE: Manufacturing growth slowed across Asia, and analysts say the sector is unlikely to rebound this year. The global Purchasing Managers Index for the manufacturing sector dropped for the sixth straight month in July. Falling to 50.6 points, the index is just a fraction above the level that indicates the sector is shrinking. With the exception of Korea and Japan, the PMI readings for manufacturing in Asia's major economies, including China, all dropped last month. For Singapore and Taiwan, the sector actually shrank, with a PMI reading below 50 points. These economies are relatively more dependent on international trade, which has been hit this year by economic crises in the US and Europe, and slowing demand in China. China's PMI reading fell to 50.7 points in July, India slipped to 53.6, Singapore dipped to 49.3, and Taiwan dropped to 46.1. Robert Prior-Wandesford...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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