Asia's manufacturing sector weakens further, show surveys
BEIJING (AFP) - Asia's manufacturing sector weakened in July, private surveys showed on Thursday, with China's showing a deepening contraction amid nagging worries over the growth outlook for the world's second-largest economy.
Closely-watched monthly assessments on Asian manufacturing released by British banking giant HSBC showed that contractions also worsened in key exporters South Korea and Taiwan, while ongoing expansions in India and Indonesia weakened.
A separate assessment by an industry group in Australia showed that manufacturing there contracted further in July.
In China, HSBC's final reading of its purchasing managers' index (PMI) for July came in at 47.7, down from 48.2 in June and the lowest since August last year.