"The PMI surveys suggest that China's economic recovery was still ongoing in May, albeit at a slower pace.
China's Caixin/S&P Global manufacturing PMI rose to 50.9 in May from 49.5 in April, above the 50-point index mark that separates growth from contraction.
Vietnam, Malaysia and Taiwan also saw factory activity shrink in May, while that of the Philippines expanded, the surveys showed.
Asia's economy is heavily reliant on the strength of China's recovery, which has been uneven with services spending outperforming activity in export-oriented sectors.
In forecasts released in May, the International Monetary Fund said it expects Asia's economy to expand 4.6% this year after a 3.8% gain in 2022, contributing around 70% of global growth.
Persons:
Julian Evans, Pritchard, Wang Zhe, Leika Kihara, Sam Holmes
Organizations:
PMI, Capital Economics, P Global, Caixin Insight, Jibun, International Monetary Fund, Thomson
Locations:
South Korea, Vietnam, Taiwan, TOKYO, China, Japan, Asia, South, Malaysia, Philippines