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More sectors register falling output in January in Asia

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Staff Writer |
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Asia   January survey data revealed renewed downturns in real estate

According to the latest Asia Sector PMI data, compiled by IHS Markit and sponsored by Nikkei, deteriorating business activity affected more industries than during December.

January survey data revealed renewed downturns in real estate, general industries, chemicals, household and personal use products, construction materials and forestry and paper products.

Meanwhile, contractions worsened in the Automobiles and Auto Parts and Machinery and Equipment sectors in January, with the former experiencing the sharpest deterioration in production since December 2015.

The worst performing sector remained Metals and Mining, which observed a strong and unchanged rate of contraction.

Elsewhere, Consumer Services firms pointed to expansion in January, having declined marginally in December.

Meanwhile, stronger growth was recorded in both Beverages and Food and Commercial and Professional Services sectors.

Other sectors continued to grow in January, but to lesser extents.

December’s outperformer, Insurance, only grew moderately, compared to a sharp increase previously.

Banks, Transportation, Healthcare Services and Technology Equipment companies also expanded at weaker rates in January.

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