A plastic barrier separates a shopper from a sales assistant at a convenience store in Ho Chi Minh City, Vietnam, on Monday, June 21, 2021. - Bloomberg
TOKYO: Asia s factory activity saw momentum weaken in June as some countries struggled with rising input costs and the reintroduction of curbs to combat a new wave of coronavirus infections, surveys showed on Thursday.
Vietnam and Malaysia were particularly hard hit. Manufacturing activity shrank in those countries in June due to stricter coronavirus restrictions, clouding the outlook for a region lagging western economies in recovering from the pandemic. The June PMI data show clearly the impact of the latest wave of the COVID-19 pandemic on the Vietnamese manufacturing sector, with company shutdowns in areas facing restrictions leading to sharp reductions in output and new orders across the sector as a whole, said Andrew Harker, Economics Director at IHS Markit.
Asia factories see momentum weaken on rising costs, new COVID curbs
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By Leika Kihara
TOKYO, July 1 (Reuters) - Asia s factory activity saw momentum weaken in June as some countries struggled with rising input costs and the reintroduction of curbs to combat a new wave of coronavirus infections, surveys showed on Thursday.
Vietnam and Malaysia were particularly hard hit. Manufacturing activity shrank in those countries in June due to stricter coronavirus restrictions, clouding the outlook for a region lagging western economies in recovering from the pandemic.
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Asia factories see momentum weaken on rising costs, new COVID-19 curbs
FILE PHOTO: Copper rods are seen at Truong Phu cable factory in northern Hai Duong province, outside Hanoi, Vietnam, August 11, 2017. REUTERS/Kham/File Photo
01 Jul 2021 11:10AM (Updated:
01 Jul 2021 11:41AM) Share this content
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TOKYO: Asia s factory activity saw momentum weaken in June as some countries struggled with rising input costs and the reintroduction of curbs to combat a new wave of coronavirus infections, surveys showed on Thursday (Jul 1).
Vietnam and Malaysia were particularly hard hit. Manufacturing activity shrank in those countries in June due to stricter coronavirus restrictions, clouding the outlook for a region lagging western economies in recovering from the pandemic.
SGX Nifty:
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 18 points at the opening bell.
On the macro front, Markit Manufacturing PMI for June will be declared today, 1 July 2021.
The combined output of the eight core sector industries rose by 16.8% in May, as compared to a year ago. Core sector output had risen by 60% in the previous month of April. The eight core industrial of coal, crude oil, natural gas, refinery products, steel, cement, fertiliser and electricity have a combined weight of over 40% in the Index of Industrial production, or IIP.
India has received 10% more rainfall than normal in June, the India Meteorological Department (IMD) said on Wednesday. The monsoon made onset over Kerala on June 3.
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