Asia's factory activity shrinks as China lockdown impact widens

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Asia's factory activity shrinks as China lockdown impact widens - Channel News Asia

Quick Summary:

TOKYO : Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China's strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday.

Japan's au Jibun Bank PMI also fell, to 49.0 in November from October's 50.7.

The results highlighted Asia's darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of a further slump in its economy, the world's second-largest.