Manufacturing activity in China expanded at the fastest clip in nearly a decade in August, as factories ramped up output to meet rebounding demand, a private survey showed. The upbeat findings contrasted with an official survey on Monday, which showed China's factory activity grew at a slightly slower pace in August. "In most major economies, except for China, factories are still running well below pre-pandemic capacity levels," said Ryutaro Kono, chief Japan economist at BNP Paribas. While manufacturing activity rose in Taiwan and Indonesia, they slid in the Philippines, Vietnam and Malaysia. Japan's final au Jibun Bank Manufacturing PMI rose to a seasonally adjusted 47.2 in August from 45.2 in July, marking the slowest contraction since February.

Source: bd News24 September 01, 2020 02:37 UTC