Indicators
Asia Factories Eke Out Growth in 2024 as Trump Tariffs Loom
- Asia PMI is little changed as new orders and output grow
- Export orders, confidence drag on activity across the region
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Factory activity across much of Asia expanded in December as domestic orders and output improved, but weaker confidence and a sustained drop in export orders point to global risks ahead.
The PMI gauge for Southeast Asia eased slightly to 50.7 from 50.8 in November, capping the year’s growth at 51 for 2024, according to S&P Global’s purchasing managers index. Growth was led by several countries across the region including Taiwan, whose PMI registered the highest reading since July and well above the critical 50 threshold that separates expansion and contraction.