Asia’s Factories Signal More Pain as China Recovery Falters

(Bloomberg) — Asia’s factories saw further easing in demand in May as the Chinese mainland’s faltering recovery weighed on a region already smarting from a global trade downturn.

Purchasing managers indexes for export powerhouse Taiwan dropped to 44.3 from 47.1 in the previous month, while Vietnam registered the lowest reading since September 2021, according to S&P Global on Friday. South Korea’s factory gauge ticked up marginally in May although still remaining very much in contraction territory. A reading above 50 signals expansion and below that a contraction.