Asia’s manufacturing engines just turned in another month of fitful progress, with September’s purchasing managers indexes looking just a bit brighter, with a few exceptions.
India’s factory gauge surged further into expansion, while still making up for a record-low reading in April and with more challenges ahead given a worsening Covid-19 outbreak. Japan’s PMI rose to the highest level since February but remained in contractionary territory.
Vietnam improved to its best in more than a year, and Thailand and the Philippines each edged higher. Indonesia brought the biggest bad news, with its gauge slumping as Jakarta reintroduced restrictions to curb the spread of coronavirus cases.
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