Asia appears to be showing signs of post-coronavirus life this morning, with data released from across the region showing some pleasing signs of a rebound. The results are doubly pleasing as the resurgence is broadly based across the key economies of the region and not just China, bringing a welcome respite from months of virus doom and gloom.
China’s official March and PMI’s rebounded very strongly in March. Manufacturing PMI leapt back into expansionary territory, printing 52.0 from February’s dire 35.7. Non-Manufacturing PMI, meanwhile, nearly doubled to 52.3 from 29.6 previously. Japan’s February rose 0.40% with climbing by 0.60%. Not spectacular, but a pretty good result all in all. South Korea, meanwhile, saw for February slump by 6.0%, but YoY for February leaped 11.40% while Construction Output rose 5.60%.
New Zealand Building Permits rose 4.70%, albeit the February number coming before the national lock-down. Australian held steady at 0.40%. Less…
