Overview
- China’s official manufacturing PMI dropped to 49.3 in July, its lowest reading since January and marking continued contraction in factory output.
- S&P Global’s private-sector PMI for China slipped to 49.5, with new export orders contracting for a fourth straight month despite a 90-day tariff suspension with the United States.
- South Korea’s factory PMI fell to 48.0 in July, extending a six-month downturn as firms grapple with both domestic weakness and tariff policy doubts.
- The National Bureau of Statistics attributed part of China’s July slowdown to high summer temperatures, heavy rain and the sector’s traditional off-season.
- Regional S&P Global surveys show Asia’s factories struggling under soft global demand and the risk of U.S. duties reimposing later this year.