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Bloomberg
Factory activity across much of Asia continued to hold up in January even as China’s output showed signs of moderating.
Taiwan’s IHS Markit January manufacturing purchasing mangers’ index rose to 60.2 from 59.4 in December, its highest reading since April 2010. South Korea’s rose to 53.2 from 52.9, the most
since February 2011. Both were well above the 50 level that separates contraction from expansion.
There were also gains for India, which rose to 57.7 from December’s 56.4, expanding for a sixth straight month; Indonesia, which rose to 52.2 from 51.3 — its highest reading since July 2014; and the Philippines, which increased to 52.5 from 49.2, its highest level since
December 2018.
“Asian industry looks likely to remain strong in the near term, helping economic recoveries to stay on track,†Capital Economics’ Asia economist Alex Holmes wrote after the data.