A welder works on a K9 Howitzer at Hanwha Aerospace’s manufacturing facility in Changwon, South Korea, on Thursday, April 18, 2024. - Bloomberg
TOKYO: Asia's factory activity shrank in May as soft demand in China and the impact of U.S. tariffs took a heavy toll on companies, private surveys showed on Monday, highlighting the darkening outlook for the once fast-growing region.
Trade-reliant Japan and South Korea continued to see manufacturing activity contract in May as U.S. President Donald Trump's automobile tariffs cloud the outlook for exports.
