Brazil manufacturing activity picks up in August -PMI

02 September, 2017, 00:29 | Author: Barbara Daniel
  • China Factory Growth Accelerates, Service Industries Slip

The seasonally adjusted Purchasing Managers' Index (PMI) - a composite indicator created to provide a single-figure snapshot of operating conditions in the manufacturing economy - registered 51.6 in August, up from 51.1 in July to signal an improvement in overall operating conditions.

United Kingdom manufacturing activity surged in August, according to data released by IHS Markit Friday, with sentiment among businesses across the industry hitting a three year peak during the recent month.

Domestic demand was also strong, she said.

To cope, companies stepped up the pace of hiring, which Gill said a current upswing in employment still had "far from run its course".

China's factory activity gathered steam in August, official data showed on Thursday, beating expectations, but not dispelling concerns about the headwinds facing the world's second largest economy.

A private sector survey confirmed earlier data pointing to a pick-up in Chinese manufacturing in August, but some economists remained unconvinced about the staying power of the upturn.

A PMI of 56.9 represented the second-highest level of activity in the industry in three years, and rose from 55.3 in July.

The latest official data showed retail inflation rose 2.36 percent in July on an annual basis after easing for three consecutive months.

The job market saw its thirteenth straight month of growth, with August marking the quickest rate of increase since June 2014.

But he added: "Investment growth has cooled recently and we anticipate a further slowdown as the impact of tighter monetary conditions continues to feed through".

Input prices had risen at the fastest pace since March because of supplier shortages and transportation problems, the release said. "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.

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