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☆ South Korea factory activity shrinks sharply as overseas demand weakens, PMI shows
▼ + stars: | 2024-10-02 | by ( ) www.cnbc.com time to read: +2 min

Aerial view of the capital city of Seoul in South Korea, seen at sunset. South Korea's factory activity contracted at the sharpest pace in 15 months in September as overseas demand slowed for the first time in the year, a private survey showed on Wednesday, suggesting a slow road to a full-blown economic recovery. Output and new orders shrank in September, after gaining for five straight months, with the steepest slump in 11 months and 15 months, respectively. Specifically, export sales to China, Japan, India and the United States weakened, according to the survey. The survey showed backlogs of work, an indicator of near-term activity, fell by the most in five months, while optimism for the year ahead weakened sharply to the lowest level since December 2022.

Persons: Usamah Bhatti Organizations: P Global, P Global Market Intelligence, Employment, Samsung Electronics, SK Locations: Seoul, South Korea, China, Japan, India, United States

☆ US military says it killed a senior ISIS official in Syria airstrike
▼ + stars: | 2024-06-19 | by ( Haley Britzky | ) edition.cnn.com time to read: +1 min

CNN —A senior ISIS official was killed in a US airstrike on Sunday in Syria, the US military said Wednesday in a post on X. “On June 16, US Central Command conducted an airstrike in Syria, killing Usamah Jamal Muhammad Ibrahim al-Janabi, a senior ISIS official and facilitator,” the post from US Central Command said. Nearly three weeks ago, an airstrike in a remote area near Dhaardaar in Somalia was assessed to have killed three ISIS militants, according to US Africa Command. Between January and March 2024, CENTCOM and its partners killed seven ISIS operatives in Syria and detained 27 more. “We continue to focus our efforts on specifically targeting those members of ISIS who are seeking to conduct external operations outside of Iraq and Syria and those ISIS members attempting to break out ISIS members in detention in an attempt to reconstitute their forces.”

Persons: CNN —, “, Usamah Jamal Muhammad Ibrahim al, ” CENTCOM, ”, Erik Kurilla Organizations: CNN, ISIS, US Central Command, US Africa Command Locations: Syria, Africa, Dhaardaar, Somalia, Iraq

☆ Jamaal Bowman may be the most endangered Squad member. He doesn't seem alarmed.
▼ + stars: | 2024-05-13 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +19 min

Advertisement"He was recruited by AIPAC to run against us because we called for a permanent cease-fire," Bowman said of Latimer. In January, Bowman lost the support of the liberal pro-Israel group J Street over his rhetoric on Israel. Like Bowman, Latimer has a blunt and direct speaking style that sometimes leades to gaffes, such as his invocation of the racist lynching of Emmett Till when commenting on the sexual misconduct allegations against then-Gov. When asked about Bowman's charge of racism, Latimer pointed to his appointment of Ken Jenkins, a Black man, as his deputy county executive. Bowman and Latimer have known each other for nearly four years, first meeting for coffee after the congressman's 2020 primary victory.

Persons: Jamaal Bowman, George Latimer —, Worker's, Bowman, Latimer, Sen, Shelley Mayer, Marjorie Taylor Greene, Thomas Massie, George Santos, haven't, we're, Bryan Metzger, He's, Cori Bush of, Bernie Sanders's, —, Benjamin Netanyahu, Selcuk, — Bowman, Y'all, Israel, Bowman's, he's, Eliot Engel, George Latimer, Republican Rob Astorino, Jeenah, let's, Emmett Till, Andrew Cuomo, Ken Jenkins, he'd, Brian Fitzpatrick, Tom Kean of, who's, I'm, Joe Biden, Republican megadonors, Donald Trump, MAGA, Usamah Adrabi, deriding Latimer, they've, what's, Harrison, it's, They're, I've, Bowman —, that's Organizations: Westchester, Democratic Party, Capitol, American Israel Public Affairs Committee, Democratic, Israel, AIPAC, Getty, J, Republican, Washington, Working Families Party, Hamas, that's, Business, Mount Vernon High School, Apple Locations: Port Chester , New York, Congress, Westchester County, Mount Vernon, Port Chester, Cori Bush of Missouri, Israel, Queens , New York, Anadolu, Gaza, Westchester, Rye —, York, Latimer, White Plains , New York, Pennsylvania, Tom Kean of New Jersey, New York, California, Bronx, Yonkers, New Rochelle, Scarsdale, Rye, Harrison, Mount Vernon , New York, American

☆ New York Democrat who sharply criticizes Israel faces ouster threat
▼ + stars: | 2024-05-12 | by ( Edward-Isaac Dovere | Manu Raju | ) edition.cnn.com time to read: +16 min

By December, he was standing with hunger strikers outside the White House, upping his criticism of the actions in Gaza. Shelley Mayer, a state senator whose district largely overlaps with the congressional district, initially backed Bowman. New York state Sen. Shelley Mayer at a state Senate Judiciary Committee hearing in April 2023, in Albany. Explaining how his response to the Israel-Hamas war fits his district, Bowman cited a poll conducted by his campaign that he claimed showed an overwhelming majority in his district support a permanent ceasefire. The Democratic Majority for Israel (DMFI) has endorsed Latimer and is expecting to spend to boost him.

Persons: Jamaal Bowman’s, Manu Raju ”, Jamaal Bowman, Israel’s, Israel, Bowman, upping, He’s, Benjamin Netanyahu, Joe Biden, Netanyahu, Shelley Mayer, George Latimer, Sen, Hans Pennink, ” Mayer, “, ”, We’ve, ” Bowman, Rashida Tlaib, Jonathan Jackson, Cori Bush, Nathan Howard, Biden, Chuck Schumer, –, New Yorker, Usamah Andrabi, Jeenah, Latimer, Jimmy Carter, Hakeem Jeffries, Kevin Riley, Riley, Israel doesn’t, ” Latimer, he’s, he’d, ‘, ’ ” Bowman, Amy Paulin, it’s, ” Paulin, Jamaal, Mandel Ngan, Latimer hasn’t, Patrick Dorton, Jeremy Ben, Ami, Ben, ” Ben, Steny Hoyer, Hoyer, ” Hoyer Organizations: CNN, Democrat, United Nations, J, New York Democrats, Democratic, Westchester, Republican, Capitol, Fox News, ”, Reps, House, Iron, Democratic Socialists, America’s, Michigan Rep, Palestinian, Israel, American Israel Public Affairs Committee, New, George Latimer voters, Democrats, Washington Post, House Democratic, Conservative, Getty, Jewish Voters, Empowerment, Black, AIPAC, PAC United Democracy, Democratic Party, ” Maryland Locations: Gaza, Bronx, Westchester County, That’s, New York, Washington, Israel, Washington groaned, George Latimer . New York, Albany, Palestine, Palestinian, York, Palestinian American, ”, White Plains , New York, Yonkers, Rye, Brooklyn, Westchester, Scarsdale, Washington ,, AFP

WASHINGTON (AP) — Facing a barrage of super PAC money, more than 20 progressive groups are coming together to forcefully counter pro-Israel groups’ efforts to primary challenge liberal members who've been critics of Israel's blistering military offensive in Gaza. The coalition, called Reject AIPAC, includes Jewish peace organizations and Arab American and Muslim groups that have been organizing in record numbers since the Israel-Hamas war began in October. That campaign has turned the otherwise safely Democratic districts into election battlegrounds. Israel’s air and ground offensive has also driven most Palestinians from their homes and pushed one-quarter of the population toward starvation. This comes as AIPAC shifted in its own strategy in the last several years, transitioning from strictly a lobbying organization to helping elect centrist, pro-Israel Democrats.

Persons: who've, ”, Usamah, Jamaal Bowman, Ilhan Omar, Summer Lee of Pennsylvania, Cori Bush of, ” Andrabi Organizations: WASHINGTON, Israel, Hamas, American Israel Public Affairs Committee, Democratic, Justice Democrats, AIPAC, Democratic Party, Press, Congressional Progressive Caucus, Israel Democrats Locations: Gaza, Israel, Washington, New York, Minnesota, Cori Bush of Missouri

☆ Factories in developing Asia may have seen the worst of manufacturing slump
▼ + stars: | 2024-02-01 | by ( Clement Tan | ) www.cnbc.com time to read: +3 min

Photographer: Linh Pham/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesMost developing economies in Asia might have left the worst of the broad manufacturing slowdown behind in 2023, according to a series of private surveys released Thursday. South Korea's S&P manufacturing purchasing managers' index recorded its first expansionary reading since June 2022 at 51.2 in January, up from 49.9 in December. "The health of the South Korean manufacturing sector registered a renewed improvement at the start of 2024. Growth was reportedly reflective of increased domestic and international orders, particularly for new products," Bhatti added. These private PMI surveys are typically seen as one of several leading indicators of economic activity in the respective economies.

Persons: Linh Pham, Usamah Bhatti, Bhatti, Annabel Fiddes Organizations: Wind Corp, Vung, Renewables, International Energy Agency, Bloomberg, Getty Images Bloomberg, Getty, P Global Market Intelligence, Vietnam, ASEAN, PMI, International Monetary Fund, IMF, " Companies Locations: Tan Thanh, Ba, Vung Tau Province, Vietnam, Asia, China, Taiwan, Malaysia, Thailand

☆ Biden’s Gaza problems are deeper than just being interrupted in public
▼ + stars: | 2024-01-27 | by ( Camila Dechalus | ) edition.cnn.com time to read: +13 min

The administration appears to be struggling with finding Arab American and Muslim leaders who are willing to even meet with White House officials, and no Muslim or Arab American groups have endorsed Biden’s reelection bid. And I think that’s a pretty good descriptor of Arab American voters right now.”The ceasefire calls are coming from a diversity of progressive groups, including those representing Jewish voters, voters of color and young people – key parts of Biden’s winning 2020 coalition. In the last presidential election cycle, Biden received the support of several prominent Muslim American elected officials and community leaders. At least 146,620 of the 200,000 Muslim American voters in Michigan cast a ballot in the 2020 election cycle, according to an analysis by Emgage. Some Arab American and Muslim voters say even if Biden’s campaign ramps up their outreach, it will be too late.

Persons: Washington CNN —, Rashida Tlaib, Joe Biden, Biden, …, ”, Tlaib –, Biden’s, Julie Chavez Rodriguez, Abdullah Hammoud, he’s, ” Hammoud, CNN’s Kaitlan Collins, Hammoud, it’s, Kamala Harris ’, Harris, Harris ’, ” “, Hanan Shaheen, Wadee Alfayoumi, Joe ”, Adrian Hemond, “ He’s, Hemond, Chavez Rodriguez’s, Assad Turfe, Wayne, he’d, Chavez Rodriguez, there’s, “, we’ve, Osama Siblani, Siblani, Dilawar Syed –, –, Usamah Andrabi, Khalid Turaani, Farah Khan, Trump, Hillary Clinton, Nabila Taha, ” Taha, ” Michael Tyler, Ariana Afshar, Hassan Abdel Salam, Dawud Walid, Samraa Luqman, ” CNN’s Kaanita Iyer Organizations: Washington CNN, Michigan Democratic, Palestinian, firebrand, Muslim, CNN, Democratic, White, Dearborn, ”, Intergovernmental Affairs, American, American voters, Jewish, Arab American, Lebanese American, US Small Business Administration, Democratic Party, Republicans, Justice Democrats, Muslim American, Biden, Michigan, Trump ., University of Minnesota, Islamic, Trump Locations: Michigan, Palestinian American, Israel, Gaza, Tlaib, Detroit, Arab, ”, Palestinian, America, Illinois, Chavez Rodriguez’s Michigan, Gaza’s, Dearborn, Lebanese, Northville , Michigan, Minnesota, Florida, Georgia, Nevada, Pennsylvania, Washington ,, California

☆ Japan's factory activity shrinks for 6th month on weak demand - PMI
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +2 min

The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) slipped to 48.1 in November from 48.7 in October. "Demand conditions at private sector firms remained muted in November and were little-changed from October." The au Jibun Bank flash services PMI stood at 51.7 in November, little changed from 51.6 in October, showing modest expansion in the sector, but it was the second-weakest reading so far this year. Firms stayed confident about the business activity outlook for one year ahead, the survey said. The au Jibun Bank Flash Japan composite PMI, which combines both manufacturing and service sector activity, stood at 50.0 in November from 50.5 in October.

Persons: Toru Hanai, Usamah Bhatti, Kaori Kaneko, Kim COghill Organizations: REUTERS, Rights, P Global Market Intelligence, PMI, Firms, Jibun Bank Flash Japan, Thomson Locations: Kawasaki, Japan

Bowman, Lee, Omar and Tlaib also were among the 17 sponsors of Bush’s resolution asking the Biden administration to call for a ceasefire. Challenges to Bush and the others were possible even before the Hamas attack on Oct. 7 or Israel’s subsequent attack on Hamas in the Gaza Strip. It is unfortunate, Andrabi said, that the House Democratic leadership has not taken a stronger stance against AIPAC’s efforts to knock off rank-and-file Democrats. It remains unclear whether House Democrats will help incumbents fend off primary challengers through campaign fundraising arms. Before Oct. 7, House Democratic Leader Hakeem Jeffries, D-N.Y., issued statements of support for Omar and others, saying he will support the reelection of every House Democratic incumbent, regardless of ideology.

Persons: Cori Bush, Israel, Wesley Bell, Bush, Bush isn’t, Israel —, Bell, Summer Lee, Jamaal Bowman, Ilhan Omar, Rashida, Israel's staunchest, Omar, Bowman, Thanedar, Lee, Tlaib, Gaza . Bowman, Biden, Omar —, “, Democrats ’, Usamah Andrabi, Andrabi, Hakeem Jeffries, ” Tlaib, Israel Democrats ” —, Thanedar —, Detroit —, Sen, Adam Hollier —, Reconstructionists, ”, Daniel Fellman, Lee isn’t, ” Lee, Bhavini Patel, Lee doesn’t, Don Samuels, George Floyd, George Latimer, Latimer, Bush —, —, Darryl Gray, Louis, ” ___ Levy, Steve Karnowski, Joey Cappelletti, Anthony Izaguirre Organizations: LOUIS, Hamas, The Missouri Democrat, U.S, Senate, Democratic, Democrats, Israel, Democratic Party, Justice Democrats, American Israel Public Affairs Committee, “ Democratic, ”, House Democratic, Democratic Congressional, Palestinian American, Israel Democrats, Tlaib, Detroit, Conservative, Somali American, Westchester Locations: Israel, The Missouri, St, Louis, Pennsylvania, New York, Minnesota, Michigan, Detroit, Gaza ., Gaza, D, Detroit House, Dearborn, Southfield, Hollier, In Pittsburgh, Pittsburgh’s Temple, Minneapolis, Somali, Westchester County, Missouri, Iran, Harrisburg , Pennsylvania, Lansing , Michigan, Albany , New York

☆ Primary Battles Brew Over Progressive Democrats’ Stances on Israel
▼ + stars: | 2023-10-29 | by ( Jonathan Weisman | More About Jonathan Weisman | ) www.nytimes.com time to read: +3 min

And progressive organizations are girding for possible challenges to Representatives Cori Bush of Missouri, Rashida Tlaib of Michigan and others, funded from the deep pockets of AIPAC and other pro-Israel groups. “They spent a historic amount of money to intervene, and try and buy primaries in 2022,” said Usamah Andrabi, spokesman for Justice Democrats, the liberal insurgent group that helped elect many of the progressives now on the primary target list. “I think we will see a doubling and tripling down, because no one in the Democratic leadership is trying to stop them.”Officially, AIPAC is neutral for now. Progressive Democrats like Ms. Lee have other constituents to consider, including progressive Jews who remain by her side. Ms. Lee said Jews were “10 percent of our district, but we also have Muslim, Arab, Palestinian constituents who are afraid for their families and their lives.”

Persons: George Latimer, Jamaal Bowman, Eliot Engel, Cori Bush of, Rashida, “, ”, Usamah Andrabi, Marshall Wittmann, Bowman, Lee, ” Waleed Shahid, Biden, Avigail Oren Organizations: Westchester County, House Foreign Affairs Committee, Justice Democrats, Democratic, AIPAC, Israel, Progressive Locations: New York, Westchester, Cori Bush of Missouri, Michigan, Israel, Gaza, Pittsburgh

☆ Japan's factory activity extends declines in September
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Oct 2 (Reuters) - Japan's factory activity fell at the fastest pace in seven months in September, a survey showed on Monday, as worsening global economic conditions continued to weaken demand. Output in September was the lowest since June while the decline in new orders was the steepest since February, S&P Global Market Intelligence data showed. "Depressed economic conditions domestically and globally weighed heavily on the sector," said Usamah Bhatti, economist at S&P Global Market Intelligence, which compiled the survey. The yen has come under pressure in recent months, weighed by the Bank of Japan's ultra-loose monetary policy that has inflated the costs of imported goods and squeezed manufacturers. The pessimistic headline figure followed government data published last week that showed Japanese factory output remained flat in August.

Persons: Usamah Bhatti, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank, P Global Market Intelligence, Bank of Japan's, Thomson Locations: TOKYO, Jibun Bank Japan, China, Taiwan

☆ Japan's factory activity falls on soft orders - PMI
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Aug 1 - Japan's factory activity contracted at a faster pace in July, a business survey showed on Tuesday, taking a hit from soft orders amid weakening global economic conditions. Data on Monday showed Japan's factory output grew in June for the first time in two months thanks to solid auto production. Subindexes gauging new orders and output both stayed in the sub-50 territory in June for a second month. Japan has to date weathered worsening global economic conditions relatively well thanks to robust domestic service activity and ultra-loose monetary policy. On a brighter note, the S&P survey showed easing cost pressures for companies thanks to sliding fuel and commodity prices.

Persons: Usamah Bhatti, Bhatti, Sam Holmes Organizations: Jibun Bank, P Global Market Intelligence, Thomson Locations: TOKYO, Jibun Bank Japan, Japan

☆ Pentagon says it's almost like Russia's on a 'mission to protect ISIS leaders' after its fighter jets harassed US Reaper drones that took out a top terrorist
▼ + stars: | 2023-07-10 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Russian fighter jets harassed several US military drones operating above Syria on Friday. Those same American MQ-9 Reaper drones later went on to kill an ISIS leader during an operation. A Pentagon official said Monday it's almost like Moscow is "on a mission to protect ISIS leaders." On Wednesday, Russian Su-35s dropped parachute flares and engaged afterburners in front of three Reaper drones. The following day, Russian Su-34 and Su-35 fighter jets dropped flares and flew "dangerously close" to an unspecified number of Reaper drones.

Persons: Alexus Grynkewich, Usamah, Michael, Erik, Kurilla, Assad, Sabrina Singh, Singh, CENTCOM, Russian Su, Grynkewich, Colin Kahl, Kahl Organizations: Pentagon, ISIS, Service, Russia, Islamic, NATO, US Air Forces Central Command, US Central Command, U.S, US Air Force, Russian, US, Dassault Rafale, Air Force, Washington Locations: Syria, Moscow, Wall, Silicon, Russia, Washington, Russian, Screengrab

☆ US central command says it killed ISIS leader in Eastern Syria
▼ + stars: | 2023-07-09 | by ( ) www.reuters.com time to read: +1 min

CAIRO/AMMAN, July 9 (Reuters) - The U.S. Central Command said on Sunday it conducted a drone strike on July 7 that killed an ISIS leader in Eastern Syria. "U.S. Central Command conducted a strike in Syria that resulted in the death of Usamah al-Muhajir, an ISIS leader in eastern Syria," it said without giving any more details on al-Muhajir. U.S. military commanders say ISIS remains a significant threat within the region, however, though its capabilities have been degraded and its ability to re-establish its network weakened. Islamic State controlled one-third of Iraq and Syria at its peak in 2014. Reporting by Adam Makary and Omar Abdel Razek and Suleiman al Khalidi; Editing by Elaine Hardcastle and Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Usamah, Abu Bakr al Baghdadi, Adam Makary, Omar Abdel Razek, Suleiman al Khalidi, Elaine Hardcastle, Hugh Lawson Organizations: U.S . Central Command, ISIS, Thomson Locations: CAIRO, AMMAN, Eastern Syria, Russian, U.S, Syria, . Washington, Turkey, Iraq

☆ Japan's service activity maintains firm pace as demand picks up - PMI
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 5 (Reuters) - Japan's service activity maintained a brisk pace of growth in June as the relaxation of pandemic-related restrictions revived consumer demand, a private-sector survey showed on Wednesday. The final au Jibun Bank Japan Services purchasing managers' index (PMI) fell to a seasonally adjusted 54.0 last month from a record-high 55.9 in May. That compared with the flash reading of 54.2 and remained well above the 50 threshold separating expansion from contraction for the 10th straight month. The composite PMI, which combines the manufacturing and services activity figures, slowed last month after peaking in May. The index dropped to 52.1 in June from 54.3 in May, staying above the break-even 50 mark for the sixth straight month.

Persons: Usamah Bhatti, Satoshi Sugiyama, Sam Holmes Organizations: Jibun Bank Japan Services, P Global Market Intelligence, Bank of Japan, PMI, Thomson Locations: TOKYO

☆ Japan factory activity slips back into contraction in June on soft orders
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

TOKYO, July 3 (Reuters) - Japan's factory activity contracted in June after expanding for the first time in 7 months in May, a private survey showed on Monday, dragged down by weak orders for cyclical goods amid a global economic slowdown. Output and new orders, the subindexes that constitute the majority of the headline index, fell back to contraction, ending a brief rebound buoyed by improved business confidence. New orders from overseas customers decreased at the fastest rate in four months, notably reflecting feeble demand from China, Japan's biggest trade partner. The soft PMI reading came after Friday's government data showed Japanese manufacturing output falling more than expected in May, dented by automakers' parts shortage and production cuts. The rise in input and output prices were the slowest in 28 months and 21 months, respectively.

Persons: Usamah Bhatti, Kantaro, Shri Navaratnam Organizations: Jibun Bank, P Global Market Intelligence, Thomson Locations: TOKYO, Jibun Bank Japan, China, dented, Japan

☆ South Korea factory activity suffers longest downturn in at least 19 years
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: +2 min

It has remained below the 50-mark that separates expansion from contraction since July 2022, the longest such streak in the survey that began in April 2004. Output and new orders dropped by the most in eight months and six months, respectively, dragging the headline index lower. Asia's fourth largest economy posted slim growth in the first quarter and has struggled to motor on due to weak external demand. Output prices fell for a second month, as cost pressures eased, though there was also evidence that they were reduced in an effort to stimulate sales. Manufacturers' optimism for future output fell in June to the lowest level since December 2022, a sharp U-turn from hitting a 10-month high in May.

Persons: Usamah Bhatti, Bhatti, Jihoon Lee, Shri Navaratnam Organizations: South, Asia's, PMI, P Global Market Intelligence, Manufacturers, Thomson Locations: SEOUL, Asia, Europe

☆ Japan's service activity expands at record pace in May
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

TOKYO, June 5 (Reuters) - Japan's service sector activity expanded at a record pace in May, a private-sector survey showed on Monday, thanks to a recovery in overseas demand and a surge of foreign tourists as pandemic restrictions were eased further. "The upward trend looks set to continue in the near and medium term," as outstanding business expanded at a record rate and business optimism held near an all-time high. The subindex measuring outstanding business rose at the fastest pace on record as disruptions caused by the pandemic continued to wane. Business expectations for the coming year remained robust, though the pace of increase slowed slightly from April, the survey showed. The composite PMI, which combines the manufacturing and services activity figures, expanded at the fastest pace since October 2013.

Persons: Usamah Bhatti, Kaori Kaneko, Kim Coghill Organizations: Jibun Bank Japan Services, P Global Market Intelligence, Service, PMI, Thomson Locations: TOKYO, Japan

☆ S.Korea factory activity shrinks in April, marks longest downturn in 6 years - PMI
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +2 min

However, it remained below the 50-mark that separates expansion from contraction for the 10th straight month in a row, the longest such streak since May 2017. "April PMI data provided further evidence that South Korean manufacturing firms continued to struggle in the face of the current global economic weakness," said economist Usamah Bhatti at S&P Global Market Intelligence. Sub-indexes showed output shrank for a 12th month, but at the joint-softest pace in the streak. New orders fell for a 10th month, with the pace also easing from the previous month. New export orders fell for a 14th month, at a pace only slightly milder than the month before.

☆ Japan's factory activity contracts at slower pace in April
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

TOKYO, May 1 (Reuters) - Japan's factory activity contracted for the sixth straight month in April, but the details of a private survey released on Monday showed the manufacturing sector was edging towards stabilisation amid a slower decline in new orders. New orders contracted at the softest pace since July while remaining below the 50.0 threshold for a tenth consecutive month as inbound demand stabilised moderately. Factory output also contracted for a tenth consecutive month, with some manufacturers citing that raw materials shortages had weighed on production. Input price inflation eased to its slowest pace since August 2021, although prices were still relatively high to due rising costs for raw materials. Employment grew at the strongest pace since October, while business confidence remained robust and little changed from March.

☆ Japan's March service-sector grows at fastest rate in over nine years - PMI
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +3 min

April 5 (Reuters) - Japan's services sector activity at the fastest pace in over nine years in March, a private sector survey showed on Wednesday, suggesting that the post-COVID bounce was gathering steam and providing some offset to a still-weak factory sector. The final au Jibun Bank Japan Services purchasing managers' index (PMI) rose to a seasonally adjusted 55.0 last month, from February's 54.0, marking the quickest rate of expansion since October 2013. The subindexes of new orders and overseas demand grew for a seventh month, rising at the fastest pace since February 2019 and December 2022, respectively. The subindex for employment expanded for a second month and at the fastest pace in ten months, as workloads and business expansion plans increased. The composite PMI, which combines the manufacturing and services figures, grew at the fastest pace since June 2022.

☆ Japan factory activity shrinks the most in 2-1/2 years
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

TOKYO, March 1 (Reuters) - Japan's factory activity shrank in February at the fastest pace in over two years, a private survey showed, highlighting companies' struggles amid a global economic slowdown, raw material inflation and policymakers' calls for higher wages. The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index released on Wednesday fell to 47.7 in February from January's 48.9. Manufacturing output and new orders contracted for an eighth consecutive month and at the fastest rates in 31 months, the survey showed. On the brighter side, supplier delivery delays were the least prevalent in two years, the survey showed. The Bank of Japan remains an outlier in the current global monetary tightening phase, committing to maintaining ultra-low rates to shore up its COVID-ravaged economy.

☆ Asia's factory activity contracts despite China's COVID reopening
▼ + stars: | 2023-02-01 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

China's factory activity shrank more slowly in January after Beijing lifted tough COVID curbs late last year, a private sector survey showed. The data was contrasted with a better-than-expected official PMI survey issued on Tuesday. South Korea's factory activity contracted for a seventh straight month in January. Factory activity expanded in January in Indonesia and the Philippines but shrank in Malaysia and Taiwan, PMI surveys showed. The International Monetary Fund on Tuesday slightly raised its 2023 global growth outlook on "surprisingly resilient" demand in the United States and Europe and the reopening of China's economy after Beijing abandoned its strict pandemic controls.

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