Caixin China General Manufacturing PMI at 51.6 for August

Adjust Comment Print

United Kingdom manufacturing expanded at the strongest pace in four months in August, lifted by both export orders and domestic demand.

The closely-watched Markit/CIPS UK Manufacturing purchasing managers' index (PMI) showed a reading of 56.9 last month, up from 55.3 in July and above economists' expectations of 55.

The survey stated that all the three sub-sectors that were monitored posted substantial recoveries with capital goods outperforming its consumer and intermediate goods counterparts in terms of production growth rates. "New export orders didn't disappoint either with new business wins from Europe and the U.S. - which all supported the sector's fastest rise in jobs growth since June 2014".

More news: Taylor Swift's new music video makes biggest YouTube debut ever

New contracts predominately came from the domestic market, although exports remained strong, if down on July's near-record high.

That echoed similarly robust official data on Thursday suggesting the industrial sector is continuing to prosper from a year-long, government-led building boom.

New export business also rose, however at the slowest pace in the current three-month period of growth. "Business confidence also rose to one of its highest levels in over a year". Purchase price inflation accelerated for the first time in seven months during August.

More news: Lebanon begins mediated talks with Daesh over fate of captive soldiers

"Output charges were raised marginally and at a rate that was muted in the context of historical data", Lima said. Following the GST launch, new orders and output dropped for the first time since the downturn in December previous year post demonetisation.

Japan's economy expanded by a much stronger-than-expected annualized rate of 4.0 percent in April-June, the fastest in more than two years. Both input costs and output prices rose further, with the latter hitting an eight month high, according to Zhong.

"The manufacturing economy remains in good health despite Brexit uncertainty", said Rob Dobson, director at IHS Markit.

More news: Was pregnant Savanna Greywind murdered for her baby?

Comments