Asia factory activity lifts, defying virus-driven China slowdown

MANILA, May 2 (Bloomberg): Asia’s factories managed a fitful recovery in April that highlighted their economies’ resilience to the impact on global supply chains of China’s lockdowns and conflict in Ukraine.

Manufacturing hub South Korea’s Purchasing Managers’ Index climbed to 52.1, according to S&P Global, recovering some ground lost from a sharp drop in March. Price and supply pressures were exacerbated by Russia’s war on Ukraine and China’s expanding Covid restrictions, it added.