Tech demand drives Asia’s factory revival

Huge demand for technology goods drove growth in Asia’s factory in February, but a slowdown in china underscored the challenges facing the region as it seeks a recovery from the pandemic blow.

The vaccine roll-outs worldwide and pick-up in demand provided optimism for a huge number of businesses that had grappled for months with a cash flow crunch and losses.

In Japan, manufacturing activity extended at the in over fast speed in over two years while South Korea’s exports rose for a fourth straight month, suggesting the region’s export reliant economies were benefiting from worldwide trade.

On the flip side, China’s factory activity has increased at the slow pace in nine months, hit by domestic blaze of coronavirus and soft demand from nations under renewed lockdown guidelines.

China is the first economy to recover from the coronavirus pandemic, so any signs of prolonged cooling in Asia’s growth will likely be a cause for concern.

Shigeto Nagai, Head of Japan economics as Oxford economics said, “The recovery in durable goods demand is increasing, which is leading to a positive side for manufacturers in India”.