Published: Sat, December 02, 2017
Global | By Shelia Dennis

PH manufacturing PMI climbs in Nov

PH manufacturing PMI climbs in Nov

"Economic growth in 2017 is expected to be higher than past year, but it may come under downward pressure in 2018". "Underlying data indicated that the central bank is less likely to adopt an accommodative stance as input cost inflation intensified to the fastest since April", the report said.

The Nikkei India Manufacturing Purchasing Managers' Index (PMI) rose from 50.3 in October to 52.6 in November, indicating substantial improvement of operating conditions in the country's manufacturing sector.

Growth in China's manufacturing sector continued in November albeit at a slower pace than in the previous month with only modest increases in output.

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This is for the fourth consecutive month that the index has come in above 50 point mark that separates expansion from contraction.

The latest rise in new orders was one of the strongest in the survey's history, while growth in new export orders firmed to the sharpest in nearly three years. This is the best performing since the height of the dot-com boom over 17 years ago and Markit reported that growth of output and new orders climbed to multi-year highs and supported survey-record job creation. Investment goods new orders, in particular, were strong and increased at the fastest pace since August 1994. Improved production processes and sub-contracting also contributed.

"Further rises in purchasing activity and inventories also point to the current expansion continuing and possibly accelerating in December", he added.

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There were signs, however, that inflationary pressures remained strong.

"Manufacturers have seen supply-chain constraints and rising demand for raw materials overtake exchange rate effects as the primary motivator of price increases", Mr Dobson said.

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "UK manufacturers are being swept along by the Eurozone's resurgence - the single currency area's PMI increased to 60.1, from 58.5 in October - but remain cautious about the outlook".

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