S&P Global: Asian economic momentum wanes in Sep. ’24

The latest S&P Global Asia Sector PMI data showed on Thursday growth in 13 out of 18 Asian sectors, the lowest since April. Software & Services led the expansion for the fourth month, driven by new business growth and increased staffing.

Insurance and Banks followed in second and third places. Real Estate had the weakest growth. Healthcare services saw a decline, the first in five months. Automobiles & Auto Parts, Metals & Mining, and Household & Personal Use Products also contracted.

Chemicals and Metals & Mining had the sharpest decline in new business. Real Estate was the only services sector with a drop in new business. Input prices fell in Metals & Mining, Automobiles & Auto Parts, and Chemicals.

Machinery & Equipment cost pressures remained stable. Machinery & Equipment lowered charges for the second month. Metals & Mining and Automobiles & Auto Parts reduced selling prices.

Attribution: S&P Global report 

Subediting: M. S. Salama