Asia Manufacturing Slows in October as Conflict Drives Up Costs and Weakens Demand

Manufacturing activity in Asia declined in October as conflict drove oil prices higher and costs rose while demand remained under pressure.

PMIs for major Asian economies like Japan, South Korea, and China contracted or slowed, showing persistent weakness.

Inflationary pressures picked up again due to higher material and oil prices amid Middle East conflict.

Domestic demand in Southeast Asia was unable to offset external headwinds, with most countries in contraction.

Some positive signs emerged like Taiwan's PMI improvement and South Korea's export growth, but the recovery remains fragile overall.