World News

United Kingdom manufacturing growth cools to one-year low in Q1 -PMI

United Kingdom manufacturing growth cools to one-year low in Q1 -PMI

Malaysia's manufacturing sector continued to deteriorate in March as the headline Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) fell to 49.5-49.9 in February, in line with a marginal deterioration in operating conditions. Results above 50 points indicate expansion with higher results indicating a stronger expansion.

Williamson added that despite the slowdown, growth remains robust by historical standards and he maintained that manufacturing would continue to make a substantial contribution to GDP growth in the first quarter.

Turkish manufacturing activity expanded for the 13th consecutive month in March, albeit at a far slower pace, driven by greater volumes of new orders, higher production and higher employment, a survey showed on Monday.

She said the manufacturing PMI contractions in several other Asian countries and areas clearly suggest some downside risks to regional manufacturing momentum in the months ahead.

In the unweighted model of our choice (the ISM's), respondents are asked whether output, employment, new orders, suppliers' delivery times and stocks of purchases have improved on the previous month, are unchanged or have declined.

"The latest PMI survey provided further evidence that United Kingdom manufacturing has entered a softer growth phase so far this year", said Rob Dobson, director at data company IHS Markit. Higher production was mainly linked to new order growth and favorable demand conditions.




An index measuring output, which feeds into a composite PMI due on Thursday which is seen as good guide to economic health, fell to a 16-month low of 55.9 from 59.6, a little below its flash estimate.

The PMI, based on surveys, is a leading indicator of economic activity.

Backlogs of work at euro area manufacturers also increased during March, taking the current sequence of expansion to nearly three years. Overall inflationary pressures meanwhile cooled further, with input costs increasing at the slowest rate for nine months, while firms raised their selling prices only modestly.

The pound has gained more than 4 percent against the USA dollar since the end of 2017.

Output rose for the 14th straight month in the face of "stronger underlying demand".


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