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Asia’s factories feeble despite China bounce, feeds global recession fears

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Asia’s manufacturing activity stalled in June as many companies were hit by supply disruptions caused by China’s strict COVID-19 lockdowns, while sharp economic slowdown risks in Europe and the United States reinforced fears of a global recession.

A string of surveys on Friday showed China’s factory activity bouncing solidly in June though a slowdown in Japan and South Korea, as well as a contraction in Taiwan, highlighted the strain from supply disruptions, rising costs and persistent material shortages.

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