Asian economy is facing strong against the wind
The Asian largest economy slowing or contraction last month manufacturing activity, reflecting the euro zone crisis and the American weakness.the growth caused by the enhanced against the wind.
China and India July both growth in the manufacturing sector slowed while Japan since the earthquake and tsunami there last year since the worst performance. South Korea also appear biggest drop in exports this year. “Asia is being involved in European mess, trade finally began to fall,” HSBC economist FanLiMin (Frederic Neumann) said. “The latest data seems to be that export will also suffer more pain.”
China’s manufacturing activity fell slightly in July, although in Beijing and urged the bank to cut interest rates increase lending to support the economy, the parties had expected to be presented to rise. The official purchasing managers index (PMI) from June 50.2 dropped to 50.1 of micro, only slightly higher than 50 this space expansion and contraction of the threshold.
Chinese premier wen jiabao on Tuesday warned クリスチャンルブタン Pigalle Plato 120mm パテントレザー ヌード プラットフォーム, cannot underestimate the risks of global economy, he said that he is still greater downward pressure “.
Markit/JMMA data show that Japanese July’s PMI down two points, to 47.9. Heavy reliance on China resource needs Australia manufacturing activity July fall to 3-year low. The Australian Industry Group (Australia Industry Group) last month’s PMI index fell 6.9 points, to 40.3.
Asia’s bad data highlight the region depends on demand to the us and Europe, since 2008, has been in the American and European economies struggling state. Although the euro zone sovereign debt crisis affect European economic growth has been more than a year, but it is only recently that this kind of influence began to cause its exports to Asia decreased demand for commodities.
“These Asian data shows, the inevitable adjustment has begun, we can expect the situation will also deterioration,” Hong Kong consulting company Silk Road consulting company (Silk Road Associates) BeiZheMin (Ben Simpfendorfer) said. “But I don’t think, we will face in the middle of 2008 that crash.”
Many Asian economies in the domestic economy and slow down. Data released on Tuesday showed that Taiwan’s economy in the second quarter to 0.2% year-on-year contraction.
As the first export data released the Asian economies, South Korea by investors close attention. Export 8.8% year-on-year drop in July, is the most substantial monthly decline this year. Although economists warn says, should not be too much reading a month of data, they expected, Taiwan and mainland China next week to release the export figures, also will show similar weak.
Indonesia rejected area trend, manufacturing activity continues to expand last month. Only after China and Japan’s Asian third largest economy India manufacturing growth in July.
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