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Asia's Export Economies Hit Hard by Euro Crisis

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Asia's Export Economies Hit Hard by Euro Crisis

by CFO Innovation Asia Staff, 03 January 2012
topics:
Finance and Banking
tags:
Euro Crisis exports HSBC Purchasing Managers’ Index manufacturing
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The euro crisis and the sluggish U.S. recovery have hit Asia's export economies hard.

 

According to Wall Street Journal, manufacturing contracted for a fifth straight month in South Korea and a seventh month in a row in Taiwan.

 

Over in China, two purchasing managers' indexes showed conflicting data, one showing continued contraction and the other showing the merest of growth.

 

The South Korean PMI fell to a seasonally adjusted 46.4 in December from November's 47.1, the sharpest drop in nearly three years. In Taiwan, HSBC's PMI remained well below 50 in December, though at 47.1 it did beat November's 43.7.

 

HSBC's PMI for China showed manufacturing continuing to contract, with a reading of 48.7. On the other hand, the official gauge from the China Federation of Logistics and Purchasing was at 50.3.

 

 

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Asia Manufacturing Picture Clouds
Orignal Author: 
CFO Innovation Asia Staff
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I hope that the situation
Submitted by didutz did on 20 February 2012 - 6:28pm

I hope that the situation there in Asia will be better as soon as possible, actually in the whole world the things have to be changed if they want to be in the right direction.
Preturi Aer Conditionat

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