March 27, 2019

Manufacturing growth slows in October - PMI

04 November 2018, 05:20 | Joann Bryant

China's Manufacturing Sector Expands Marginally

China’s Caixin PMI Climbed Marginally in October

The UK-wide survey indicated that the decline in manufacturing orders was linked to lower inflows of new work from overseas and softer growth of domestic demand.

A reading greater than 50 indicates the sector is growing, while a reading below 50 signals a contraction.

China's manufacturing sector expanded at its slowest pace in more than two years in October, due mainly to the intensifying trade war with the United States and the National Golden Week holiday that started on 1st October.

Globally, the data showed a divergence between developed and emerging markets. That was up from a six-month low of 52.1 in September and above all the forecasts in a Reuters poll of economists. The overall volume of inputs purchased continued to rise in October, but at the slowest rate in seven months.

"The expansion across the manufacturing sector was still weak". The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. "The pressure on production costs didn't ease".

But it remained above the 50-point mark that separates expansion from contraction for a 27th consecutive month.

October was the first full month after the latest US tariffs went into effect.

Comments submitted by ISM member respondents included in the report were largely bearish, with many citing concerns related to tariffs and trade, as well as supply chain issues, among other areas.

Construction companies' future expectations were the weakest since December 2012, when Britain's economy was still struggling to emerge from the effects of the global financial crisis. Analysts believe business conditions will get worse before getting better.

Cost burdens increased during October, the report found, fuelled by rising raw material prices, particularly for steel and timber. That could put a further squeeze on profit margins, and risks setting off a vicious circle of lower business investment, job losses and deepening gloom for the broader economy.

"The increasingly bullish mood was also reflected in one of the largest monthly increases in factory payroll numbers seen over the past seven years as firms grew capacity to meet rising workloads".

Policymakers at the European Central Bank are expected to shutter their 2.6 trillion euro bond-buying programme by the end of the year and the latest survey of purchasing managers will likely make uncomfortable reading.

President Trump has imposed tariffs on $250 billion of China's annual exports to the USA and has threatened to target all of its $500 billion export goods trade with levies if the country's leadership does not abandon its "unfair" trade practices.

Autralia's bumper trade balance comes at a cost of exports declining by -1%.

Other News

Trending Now

Blizzard announces Warcraft 3: Reforged remaster at BlizzCon 2018
The events of Diablo Immortal are set after the events of Diablo 2: Lord of Destruction and before Diablo 3 . The trailers also confirm that Diablo Immortal is a joint development project between Blizzard and NetEase.

Destiny 2 Free to Download on PC Until November 18
The caveat is that you need a account, of course, and the offer is good for anyone who does not already own the game. Just make sure you do it before November 18th, because once the promotion end, the game will likely go back to its old price.

Trump Tries To Revive Doubt Over Kavanaugh Claims After Little-Known Accuser Recants
Included in the email was a typed version of the Jane Doe letter , according to Grassley. Democrats have promised to keep investigating some of the claims made against Kavanaugh.

Cristiano Ronaldo replaced as Juventus’s full-time free-kick taker
Cagliari levelled through Joao Pedro's neat turn and finish, but Filip Bradaric's own goal put Juve ahead again two minutes later. Massimiliano Allegri's side have won ten matches and only had one draw in the league this season.

Dozens Of Yemeni Rebels Killed In Red Sea Port City - Medics
Without resolution to ongoing conflict, Yemen could face world's "worst famine" for decades, Antonio Guterres says . The officials spoke on condition of anonymity because they were not authorized to brief the media.

The T-Mobile OnePlus 6T is significantly different from the unlocked model
As part of the offer, Jio customers who buy the OnePlus 6T will get cashback worth Rs 5,400 on the first recharge of Rs 299. The software update schedule for the T-Mobile version is likely to be delayed compared to its unlocked cousin.

China Seeks to Export Internet Controls, Expands Surveillance At Home
The data shows how internet freedom has seen an impact with increased government control. Most of these events were reported in nations such as Myanmar, India, and Sri Lanka.

Expert Eye swoops in late for Breeders' Cup Mile win
The John Gosden-trained Enable is the first Arc victor to have success at the Breeders' Cup meeting in the same season. Cloud Computing, of course, surged late and beat Classic Empire in one of the most thrilling Triple Crown races ever.

New world number one Novak Djokovic sets personal record at Paris Masters
After winning at Wimbledon , the Serb became the champion of the US Open and won the Masters in Cincinnati and Shanghai. Cilic booked a meeting with Djokovic after defeating Grigor Dimitrov in straight sets.

Neil Warnock says it was a 'surreal' week before Cardiff faced Leicester
On Sunday, it will be Leicester City players coming to the temple in Bangkok to say goodbye to the man they called "the boss". Vardy is determined to honour Srivaddhanaprabha with a victory after a harrowing week for everyone involved with the club.