world-economy

Southeast Asian Manufacturing Surges as Regional Supply Chains Stabilize

Southeast Asia's manufacturing sector rebounded in July, with new orders and production accelerating to their fastest pace since the Middle East conflict began.

The rebound came as air cargo carriers expanded fleet capacity to meet sustained demand. National Airlines placed its third Boeing 777-200 freighter into commercial service on July 30, with a fourth aircraft expected in the coming months. The carrier deployed the widebody freighter on Middle East routes.

Ocean freight rates from Asia to the US, while showing early signs of moderation, remained elevated at levels roughly 234 percent above February figures. Air freight rates softened to approximately $2.82 per kilogram globally as capacity additions began offsetting demand pressures.

US labor markets also strengthened in July after a weak June, with employers demonstrating sustained hiring appetite despite ongoing geopolitical tensions and inflation concerns.