China39;s July private PMI marks first fall since April
Factory activity in Japan, South Korea contract PMI
Weakness in Asia factory activity may persist analyst
TOKYO, Aug 1 Reuters Asia39;s factory activity shrank in July, private surveys showed on Tuesday, a sign slowing global growth and weakness in China39;s economy were taking a toll on the region39;s fragile recovery.
The data underscores the challenge policymakers face in keeping inflation at bay with tight monetary policy, while forestalling headwinds from a potential recession in the world39;s secondlargest economy.
Japan, South Korea, Taiwan and Vietnam saw manufacturing activity contract in July, the surveys showed, highlighting the strain sluggish Chinese demand is inflicting on the region.
China39;s CaixinSP Global manufacturing purchasing managers39; index PMI fell to 49.2 in July from 50.5 in June, missing analysts39; forecasts of 50.3 and marking the first decline in activity since April. The 50point index mark separates growth from contraction.
The data was in line with the government39;s official PMI on Monday, raising challenges for policymakers seeking to revive momentum in China39;s postCOVID recovery.
Manufacturing PMIs remained in contractionary territory across most of Emerging Asia last month and the underlying data point to further weakness ahead, said Shivaan Tandon, emerging Asia economist at Capital Economics.
Falling new orders, bleak employment prospects and high inventory…