Muted recovery seen in Asia
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The Associated Press - Published: July 2, 2009
HONG KONG — Gradual stabilization in some economies, a muted recovery in others and a long way to go over all — that was the picture painted by a cluster of data from Asia on Wednesday after the remarkable slowdown of the last few months.
In Japan, the closely watched Tankan survey of big manufacturers, conducted quarterly by the Bank of Japan, bounced back in June from a record low in March, coming in at minus 48, the bank announced Wednesday.
In China, an official purchasing managers' index rose for a fourth consecutive month in June.
And South Korea reported that exports in June were 11.3 percent lower than a year earlier, a much smaller decline than the surprisingly poor 28.5 percent fall recorded in May.
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