Asia: Mixed PMI data as trade-war effect becoming more apparent - Westpac

Simon Murray, Research Analyst at Westpac, explains that the October Asia PMI’s continue to reflect the slowing in global growth and the impact of the US-China tariffs on other trade dependent Asian economies.

Key Quotes

“Yet encouragingly, it appears that momentum in South Korea and Japan has stabilised of late with their PMI’s settling just above trend. On the other hand, conditions have become much worse in Taiwan, with their PMI extending a sharp decline lower.”

“In emerging Asia, activity indicators remain solid but input inflation lingers as a concern in India and Indonesia as the impact of depreciating currencies is still feeding through.”