Asian Manufacturing Sectors Show Robust Growth

Manufacturing sectors across Asia showed robust growth in June, driven by strong demand and increased production despite persistent inflationary pressures. In India, the manufacturing PMI rose to 58.3, marking the fastest hiring rate in over 19 years. China's manufacturing activity also grew at its fastest pace in over three years, with the PMI at 51.8, despite challenges from rising material costs and weak market confidence. Similarly, Taiwan and South Korea reported their best manufacturing results in two years, with PMIs of 53.2 and 52.0 respectively, fueled by strong domestic and international demand. This growth in manufacturing sectors highlights a broader trend of recovering global industrial activity and trade.