Purchasing Managers’ Indices (PMIs) released today for India, Korea, Taiwan, Singapore and Australia all worsened. However, the declines were generally small. These data suggest that manufacturing sectors in the region have so far been resilient to the disruption in Japan since its mid-March natural disaster. Asia’s manufacturers will probably struggle in the near term as global growth looks to be entering a soft patch, but more policy tightening should nonetheless be expected across the region.
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