A study of affluent Chinese released this month by consulting firm Oliver Wyman found that 22% of respondents were negative about the economy when surveyed in May. It just exceeds the 21% seen in October 2022, just before Beijing announced plans to ease its stringent zero-Covid policy.Asia-Pacific markets traded mixed Monday as investors assessed private data for China's factory activity in January, while gold extended losses from Friday.China's factory activity gathered speed in January, according to a pri ...

Core Insights - Global supply chain activity declined in July as U.S. manufacturers reduced purchases of materials and components after building inventories in June ahead of the end of the 'tariff pause' [1][2] - The GEP Global Supply Chain Volatility Index fell to -0.35 from -0.17 in June, indicating increased spare capacity worldwide, primarily driven by the U.S. [2][6] - U.S. manufacturers are preparing for lower demand, as evidenced by a significant reduction in input purchases [3][6] Regional Key Findings - North America's index dropped to -0.33 from -0.06, reflecting a pullback in orders [2][6] - Asian factory purchasing activity remains slightly below trend, with notable weakness in Japan and South Korea, while Taiwan's factories experienced an accelerated downturn [7] - Europe's industrial recovery stalled, with the index declining to -0.30 from 0.01, highlighting the fragile nature of the recovery, particularly in Germany [7] Inventory and Labor Insights - Safety stockpiling has eased, suggesting limited concern over supply bottlenecks or price surges [8] - Staffing capacity and transportation costs remained stable, with no signs of inflationary pressure from these sources [8]