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Asian sees slowing growth in manufacturing sector

06-02-2011 08:52 BJT

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Some Asian countries are seeing slowing growth in the manufacturing sector.

South Korea's manufacturing sector expanded by the slowest monthly pace in May, providing fresh evidence of the global recovery losing steam. The HSBC/Markit PMI fell to the lowest since last November. Analysts say growth of the South Korean economy is slowing, which will ease pressure on the central bank to raise interest rates.

S.Korea PMI

Further south, growth in India's manufacturing sector eased slightly in May, as the pace of new orders slowed. The HSBC/Markit PMI index edged down to 57.5 in May from 58.0 in April. But input and output prices continued to rise sharply, reinforcing expectations of further policy tightening by the central bank.

India PMI

Meanwhile,the manufacturing sector in Australia remained in negative territory in May for the third consecutive month, dragged down by weak domestic demand, cheap imports and the strong Aussie dollar. According to a latest monthly survey released by the Australian Industry Group and PriceWaterhouseCoopers, Australian PMI fell 0.7 points in May to 47.7.

Australia PMI

Editor:Shi Jierui |Source: CNTV.CN

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