Finance

China's factory sector shows resilience — China Focus

China's factory sector shows resilience — China Focus

"The latest Investec Manufacturing PMI Ireland report shows that the sector exited 2017 with a very strong tailwind behind it", said Investec's Philip O'Sullivan. Subsequently, firms raised their average selling prices at the fastest pace since February.

The Purchasing Managers' Index, or PMI, rose to 59.8 in December from 58.7 in November.

Outstanding business also declined for a seventh successive month in December, showing evidence of under-capacity in the manufacturing sector.

This signalled a broad stagnation in the goods-producing economy, following the strongest growth in over three-and-a-half years in the previous month. Furthermore, the rate of expansion quickened to the strongest since December 2012.

"Recent PMI surveys show companies are confident for economic development in the new year, with production and operating activity expectation indices showing significant improvement". Notably, the rate of growth outstripped the trend seen since the start of the survey. It was the first slowdown in growth since early 2016.

"Panellists commented on reduced volumes of new business. New export orders picked up", Orlik said.

Resulting from improved demand conditions, Indian manufacturers upped their staffing levels at the end of the year. Delivery time increased for 11 consecutive months.




All seven activity sub-indexes expanded in December, but respondents said they continued to face higher energy costs, with some of those costs being passed on to customers. Furthermore, input cost inflation accelerated to the strongest since April and was sharp overall.

Overall business confidence rose and reached an eight-month high.

- Reuters picKUALA LUMPUR, Jan 2 ― Manufacturers ended the 2017 year stagnant as new orders contracted and output growth slowed from modest demand, December data compiled by Nikkei Malaysia Manufacturing Purchasing Managers Index (PMI) showed.

Among components, output, new orders and employment all recorded historically marked growth in December.

The uptrend was driven by stronger market demand from home and worldwide markets, Dodhia added.

Moreover, as consumer spending recuperated, firms were restricted in their ability to pass on higher cost burdens to clients which further placed upward pressure on firms' margins.


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