Asian factories show signs of recovery

By Reuters

Sep 03, 2024 12:15 am

TOKYO — Asian factories, including China's manufacturing sector, showed signs of a tentative recovery in August, and chip makers benefited from firm demand, private surveys showed on Monday, but economic headwinds loom.

Analysts say prospects of slowing US growth, which is likely to lead to interest rate cuts by the Federal Reserve this month, and uncertainty over the outcome of the US presidential election cloud the economic outlook.

Employees work on a steel tube tower production line at a factory in Haian, in eastern China’s Jiangsu province on Sept. 1, 2024. Factories in Asia are showing signs of recovery, according to surveys conducted on Sept. 2, 2024. AFP PHOTO

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