Asia Factories Grapple With High Costs Amid Israel-Hamas War
11/01/2023 12:12
Manufacturing activity in Asia slumped again in October as conflict in the Middle East drove oil prices higher, costs rose and global demand remained under pressure.
Manufacturing activity in Asia slumped again in October as conflict in the Middle East drove oil prices higher, costs rose and global demand remained under pressure.
Most countries across the region reported pressures from cost inflation, shrinking output and new orders, according to manufacturing purchasing managers’ indexes published Wednesday by S&P Global and au Jibun Bank. A private gauge of factory activity in China unexpectedly contracted, underlining fragility within the world’s second-largest economy.