Asia’s manufacturing sector continued to show robust growth in January, with China reporting record industrial activity for the month while the purchasing managers’ index (PMI) in India, South Korea and Taiwan also rose strongly.
South Korea, India and Indonesia also reported resurgent export growth.
The HSBC China PMI, compiled by Markit Economics, rose to a record 57.4 in January, up from 56.1 a month earlier. It was the second fastest monthly increase since the survey began in April 2004 and the 10th successive month of expansion in industrial activity. A reading of more than 50 reflects expansion.