Asia's factory activity weakens, China's rebound offers some hope

zephyreks , 10 months ago

Government reporting contraction but Caixin reporting expansion? Only thing that really makes sense is that the government wants a backdrop to justify further economic intervention in the property market.

autotldr Bot , 10 months ago

This is the best summary I could come up with:

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TOKYO, Sept 1 (Reuters) - Asia’s factory activity weakened in August as manufacturers felt the pinch from rising input costs and slowing global demand, but an unexpected rebound in China offered some hope for the region’s export-reliant economies, private surveys showed.

China’s private Caixin/S&P Global manufacturing purchasing managers’ index (PMI) rose to 51.0 in August from 49.2 in July, a survey showed on Friday, beating analysts’ forecasts and exceeding the 50.0 threshold that separates growth from contraction.

The reading came a day after an official survey showed manufacturing activity contracted for a fifth straight month, offering a mixed picture on business conditions in the world’s second-largest economy.

Japan’s factory activity shrank for a third straight month in August, while that for South Korea extended its longest-ever slump on wage pressures and soft exports, the surveys showed.

“August PMI data signalled that South Korea’s manufacturing sector saw a sustained deterioration in operating conditions,” said Trevor Balchin, Economics Director at S&P Global Market Intelligence.

Japan’s final au Jibun Bank manufacturing PMI came in at 49.6 in August, unchanged from July and staying below the 50.0 threshold for a third straight month, as input costs rose, a private survey showed.

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The original article contains 394 words, the summary contains 197 words. Saved 50%. I’m a bot and I’m open source!

BudgetBandit , 10 months ago

This is not TL:DR. This is like a school kid‘s summary essay.