UK Markit August mftg PMI SA 56.9 vs 55.0 exp

02 September, 2017, 00:30 | Author: Darnell Patrick
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The Purchasing Managers' Index compiled by research firm Markit rose to a seasonally adjusted 50.9 in August from 50.0 in July.

All the three monitored sub-sectors posted substantial recoveries, with capital goods outperforming its consumer and intermediate goods counterparts in terms of production growth rates, as per the PMI survey.

Manufacturing output declined to 54.3 from 56.3, though some survey respondents reported having a greater number of projects in the pipeline.

China's manufacturing sector remained in the expansion territory in August, fuelled by the strongest increase in new business for just over three years.

Companies expanded their production schedules and buying activity, while business confidence rose to its highest level in five months.

Sterling - which is around 13% lower than its pre-referendum level against the dollar - has been a key driver of the resurgence in the United Kingdom manufacturing sector since last June, and that remained the case in August, IHS Markit said.


The Dutch factory activity grew at the fastest pace in six-and-a-half-years in August, survey data from IHS Markit showed Friday.

The latest numbers follow trade data released earlier in August showing that growth in both exports and imports slowed from July, in a discouraging sign for demand.

Nomura said GDP appears headed for a higher growth rate and should average 7.4 percent for the second half of 2017, as against 5.9 percent for the first half, as the economy recovers from the last nine months of disruptions.

But, "we doubt that the current pace of industrial output growth can be sustained for long", he said, noting that "tighter policy will continue to weigh on investment spending in the coming quarters".

While remaining elevated, United Kingdom inflation unexpectedly eased from 2.9% to 2.6% in July. On the other side, selling prices rose as higher client demand increased manufacturers' pricing power.

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