China's Caixin manufacturing PMI hits six-month high

Dollar up in Asia with China manufacturing top data bill

Dollar up in Asia with China manufacturing top data bill

Markit's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10 percent of the economy, rose to 52.2 from 50.5 in July, its highest print since August 2008.

Similar manufacturing activity surveys from Europe and the United States later on Friday are expected to show strong growth, too, paving the way for a gradual rollback of the radical stimulus introduced after the global financial crisis, Reuters reported.

After the slump in July, factory output grew unexpectedly in August to bring the country's manufacturing sector back into growth zone on surge in new business orders after the GST-related contraction in July, the monthly PMI survey showed.

The stronger performance of the manufacturing sector filtered through to the labor market in August.

Violence spurs Rohingya exodus, toll surges to 400
He also noted with appreciation the efforts of Bangladeshi authorities to meet the "dire needs" of those crossing the border. Photographs from the scene showed the bodies of several small children lined up on the ground, covered with sheets.

Taiwan's manufacturing survey saw the fastest growth in four months, while South Korea's exports beat expectations and posted their longest run of growth in nearly six years. Results above 50 points indicate expansion with higher results indicating a stronger expansion. "Business confidence also rose to one of its highest levels in over a year".

"Overall operating conditions of the manufacturing sector improved further as market demand strengthens, but if prices rise too quickly the profitability of companies in the middle of a supply chain may be under pressure", Caixin's chief economist Zhengsheng Zong said.

On the price front, survey showed that input price inflation ticked up for the first time in six months.

Prime Minister Narendra Modi's shock move last November to scrap high-value banknotes late past year has continued to weigh on overall economic activity. "After a loss of momentum in fiscal year (FY) 2016, IHS Markit forecast the Indian economy to recover marginally in FY 2017, with real GDP growth expected at 7.3 per cent", she added.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.