China Lifts Southeast Asia Factories as Europe Downturn Eases

(Bloomberg) — Asia’s manufacturers are improving at the start of the year as the region becomes more optimistic about the boost from China’s reopening. Meanwhile, activity in the euro area shows the downturn is softening as cost pressures ease.

Factories in Southeast Asia ramped up production and purchasing in January as new orders piled in, data from S&P Global manufacturing purchasing managers’ indexes (PMIs) showed Wednesday. Signs that prices and supply chain disruptions are easing also lifted business confidence for factory output over the next 12 months.