Asia's manufacturers faced worsening pressure in October with factory activity in China slipping back into decline, clouding recovery prospects for the region's major exporters already squeezed by weaker global demand and higher prices.
Purchasing managers' indexes for factory powerhouses China, Japan and South Korea showed activity shrinking while Vietnam and Malaysia also struggled with the broadening fallout from a Chinese slowdown.manufacturing PMI fell to 49.5 in October from 50.6 in September, a private sector survey showed on Wednesday, falling back below the 50.0 point threshold that separates growth from contraction.
"The economy has showed signs of bottoming out, but the foundation of recovery is not solid. Demand is weak, many internal and external uncertainties remain, and expectations are still relatively weak." That came a day after official figures showed Japan's factory output rose much less than expected in September as demand slowed significantly.
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