Asia's factory activity expanded in June on solid momentum in the global economy and brightening prospects for semiconductor output, surveys showed on Monday...
TOKYO - Asia 's factory activity expanded in June on solid momentum in the global economy and brightening prospects for semiconductor output, surveys showed on Monday, offering policymakers some hope the region can weather the hit from soft Chinese demand.
The surveys show how Chinese firms are ramping up production despite weak domestic demand, which Beijing has failed to reverse with a rescue package for an ailing property sector. "Another strong month of data provides further evidence that global industrial activity and trade are picking up," said Joe Hayes, principal economist at S&P Global Market Intelligence, on South Korea's factory activity.
An index gauging Japanese firms' future output expectations rose to a six-month high thanks to a better medium-term outlook for the car and chip sectors, the PMI survey showed. The CBO's new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.A new type of diabetes drug known as Awiqli will be available in Canada starting Sunday. It's being billed as a big change for some patients because rather than being administered daily, this medication is injected just once a week. Health reporter Katherine Ward has the details.
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