Asia's Factory Activity Continues to Feel Europe's Headache, But Shows Expansion
China's official PMI rose to 50.5 for the month of January, signaling slight growth as anything over 50 represents expansion.
Although China's factory activity picked up in January, new export orders fell from the previous month amid economic uncertainty and turmoil remains across Europe. Data representing the six straight month of contraction in factory activity in the Eurozone is scheduled to be released later today.
South Korea's manufacturing sector witnessed new export orders decline for a sixth straight month in January as exports fell 6.6 percent. Figures indicate exports to the European Union fell 45 percent year over year within the first 20 days of January.
India's January PMI reading climbed to 57.5 as its factory activity grew at its fastest pace in eight months. CNBC reports India's economy is driven more by domestic factors and not global demand, unlike the majority of Asian nations.
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Although China's factory activity picked up in January, new export orders fell from the previous month amid economic uncertainty and turmoil remains across Europe. Data representing the six straight month of contraction in factory activity in the Eurozone is scheduled to be released later today.
South Korea's manufacturing sector witnessed new export orders decline for a sixth straight month in January as exports fell 6.6 percent. Figures indicate exports to the European Union fell 45 percent year over year within the first 20 days of January.
India's January PMI reading climbed to 57.5 as its factory activity grew at its fastest pace in eight months. CNBC reports India's economy is driven more by domestic factors and not global demand, unlike the majority of Asian nations.
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