TOKYO — Asia’s factories stepped up production in March as a solid recovery in global demand helped manufacturers move past the setbacks of the pandemic, although rising costs are creating new challenges for businesses in the region.
A series of upbeat factory surveys released on Thursday reinforce market optimism that vaccine rollouts, as well as strong growth in global powerhouses like the United States and China, will help economies emerge from their sharp downturns of 2020.
Japan and South Korea saw factory activity expand in March thanks to solid demand at home and abroad, purchasing manager indexes’ (PMI) showed, offering relief to policymakers facing pressure to speed …
Keep on reading: Asia’s factory recovery picks up but cost pressures emerge