Factory activity bounced in August as AI fuelled Asian expansion

Manufacturing activity across major global economies showed growth during August, according to purchasing managers’ indexes released on Tuesday. The expansion was primarily driven by robust demand for artificial intelligence-related hardware and semiconductors, particularly benefiting Asian manufacturers in China, Japan, and South Korea.
In Europe, the manufacturing sector demonstrated notable strength. The eurozone’s Purchasing Managers’ Index rose to 52.7 in August from 51.9