Rebound in Asia Losing Steam

Asia's economic rebound is losing steam as manufacturing activity in much of the region has slowed down, reports the Wall Street Journal.


The HSBC China Manufacturing PMI fell to 49.4 in July from 50.4 in June, the fourth straight month of decline. In Taiwan, the Purchasing Managers Index fell to 50.5 in July from 53.8 in June, the weakest reading since March 2009, notes the Journal.


South Korea's economy appeared to be more resilient, with the HSBC PMI slipping just a tad to 53.2 from 53.3 in June.


Bucking the trend is India, with the HSBC PMI registering 57.6 in July, slightly up from 57.3 in June.


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