March 23, 2018

India's December Nikkei manufacturing PMI rises to 54.7

02 January 2018, 11:18 | Simon Arnold

India's December Nikkei manufacturing PMI rises to 54.7

India's December Nikkei manufacturing PMI rises to 54.7

Subsequently, firms raised their average selling prices at the fastest pace since February.

Despite the negative impact from the working day effect and lower inventory, December manufacturing PMI indicated that the Chinese economy continued to pick up strength, CICC said.

Spain's manufacturing sector expanded at a solid pace in December thanks to strong output and hiring, a survey showed on Tuesday, in the latest sign that economic growth throughout 2017 held steady until the end of the year.

The Caixin/Markit manufacturing Purchasing Managers' Index came in at 50.8 for last month - the lowest level in five months, Caixin and IHS Markit said in a.

The moderate decline in headline PMI was mainly attributable to the lower inventory, while production growth remained solid despite the "unfavorable working day effect", as there were two fewer working days in December 2017 compared with a year ago, said a CICC research report.

The manufacturing sector employed less people as the sub-index of employment dropped 0.3 percentage points month on month to 48.5 in December.

The upward movement in the headline index was driven by a sharp increase in output. As a effect, the sector observed a modest increase in pre-production inventories for the first-time since June. Anecdotal evidence pointed to stronger market demand from home and global markets. The official PMI dropped to 51.6 from 51.8 in November, as more companies complained about the impact on their operation from tightened supply of energy and other raw materials and rising costs of transportation.

"Challenges remain as the economy adjusts to recent shocks, but the overall upturn was robust compared to the trend observed for the survey history".

The figure pointed to a marked monthly improvement in the business sector and was the strongest reading since August, the Istanbul Chamber of Industry and IHS Markit said.

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