Greek factory activity climbs to nine-year peak in August - PMI
- Author: Megan Austin Sep 02, 2017,
Sep 02, 2017, 0:58
Britain's manufacturers saw growth surge in August as new orders from both the US and Europe flooded into the country and supported the sector, according to the latest PMI reading from IHS Markit.
The Nikkei India Manufacturing Purchasing Managers' Index (PMI) rebounded to 51.2 in August from a low of 47.9 in the previous month, indicating a substantial turnaround from July's GST-related contraction.
"(The) survey showed growth moving broadly sideways, maintaining the recent positive trend of improvement in the health of the manufacturing sector", said Paul Smith, senior economist at IHS Markit, which compiles the survey.
Firmer foreign demand was a key driver of new order growth, with export sales rising to the greatest extent in over seven years in August.
Any number above 50 suggests growth in the sector's activity.
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.
U.S. disrupts evacuation of IS militants in Syria
The Assad regime has faced accusations that it has allowed ISIS to prosper and grow in eastern Syria amid six years of civil war. Dillon criticized Moscow and Damascus for allowing the buses of militants to travel through territory they control.
China's manufacturing sector remained in the expansion territory in August, fuelled by the strongest increase in new business for just over three years.
"Output charges were raised marginally and at a rate that was muted in the context of historical data", Lima said.
"In addition, manufacturers' optimism regarding future production growth only edged up in August to its five-year average, suggesting that they will invest only cautiously in extra capacity". "The drop in the output index indicates that manufacturing could act as a drag on the economy in the third quarter, with exports dampening order book growth".
New orders grew at the sharpest pace since May 2014.
Prime Minister Narendra Modi scrapped high value currency notes past year in a bid to fight corruption and wipe out black money.
Input prices had risen at the fastest pace since March because of supplier shortages and transportation problems, the release said.