Asia's factories struggled for momentum in July as China's strict COVID restrictions and flagging global demand slowed production, although early signs red-hot inflation may be peaking provided some optimism for firms squeezed by prices.
The PMIs for Asia's largest manufacturing economies highlighted the struggle for factories in those countries in dealing with the twin pressures of higher upstream prices and weakening demand, particularly from China.
Adding to that gloom, the PMI for Taiwan, a semi-conductor manufacturing powerhouse, showed factory activity falling at its sharpest pace since May 2020.There was some positive news for the region, however, with PMIs indicating input price growth slowing in China, Taiwan and South Korea.
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