Asia's factory activity stalled in February with the exception of China, as slowing global demand, stubbornly high inflation and the fallout from past interest rate hikes weighed on the region's economies, surveys showed on Wednesday.
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"Overseas economies are showing stronger signs of slowdown" as the effect of fast-pitched interest rate hikes begin to appear in many countries, Bank of Japan board member Junko Nakagawa said on Wednesday. 's final au Jibun Bank PMI fell to 47.7 in February from January's 48.9, dropping at the fastest pace in more than two years, a survey showed on Wednesday.in January on slumping production of cars and semiconductor equipment, casting doubt on the BOJ's view the economy was on course for a steady recovery.
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