Asia Manufacturing Slowdown Deepens as China Demand Slumps
-
China's factory activity slipped back into decline in October based on Caixin/S&P Global manufacturing PMI.
-
Japan and South Korea saw 5th and 16th straight month of factory activity contraction.
-
Slowdown in China impacting major exporters like Japan and South Korea.
-
Vietnam, Malaysia, Taiwan also saw declines in manufacturing activity.
-
IMF cut 2023 Asia growth forecast to 4.2% from 4.4% amid China's weak recovery risks.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/CV6RF2AJ6ZLVPB74G6T4BRKHOM.jpg)