Thailand leads Asia factories' slump as global demand fades

This aerial photo taken on Aug 10, 2022 shows a Taiwan Semiconductor Manufacturing Company (TSMC) factory in Nanjing, in China's eastern Jiangsu province. (AFP photo)

Asia’s factories slumped in October as global demand for merchandise goods made in the region continues to weaken, with Thailand recording the steepest drop in the S&P Global manufacturing purchasing managers’ index (PMI).

Taiwan’s slump was also a standout, with the PMI dropping to 41.5 in October from 42.2 in September to mark its weakest reading since January 2009.