In September Asian factories step up output ahead of year-end spending spree

In September Asian factories step up output ahead of year-end spending spree

In September, factories in Asia's largest economies increased their activity because a synchronized upswing in surge worldwide pointed to firm consumption of manufactured goods heading into the productive end-of-year shopping season.

However, minor weakness in regional economies will probably make Asian key financial institutions pursue more accommodative monetary policy, notwithstanding their Western rivals are currently scaling back stimulus.

On Saturday, China's major bank cut the amount of cash, which some financial institutions require holding as reserves for the first time since February last year for the purpose of encouraging more lending to struggling smaller businesses and energizing its lackluster private sector.

The world's number two economy has defied hopes for a slowdown in 2017, leaping at a strong clip in the first half due to a construction jump.

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