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losangelesnewstoday.com January 23, 2018


Strongest improvement in manufacturing conditions since December 2012: Nikkei India Manufacturing PMI

02 January 2018, 11:18 | Katrina Lee

Strongest improvement in manufacturing conditions since December 2012: Nikkei India Manufacturing PMI

Caixin Purchasing Managers Index - an indicator of conditions at small Chinese manufacturers- rose to 51.5 in December up from 50.8 in November and the highest reading since August

The headline Nikkei Malaysia (PMI) ― a composite single-figure indicator of manufacturing performance ― fell from 52.0 in November to 49.9 in December, signalling a broad stagnation in the goods-producing economy following the strongest growth in over three and-a-half years in the previous month, the report noted. It was also lower compared to the 55.7 reading posted a year earlier.

December's expansion was driven by a further uptick in new orders, which grew at the third-fastest rate in the survey's history and boosted jobs growth to record levels as the economy moves towards full employment.

A reading above 50 indicates expansion, while below reflects contraction.

Output expanded at the same pace as in August, matching the highest monthly rate of the year, with companies citing improved sales and stronger underlying market demand as key sources of economic growth.

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Sub-indices for production and new orders came in at 54 and 53.4, respectively, down from 54.3 and 53.6 last month, but well above the boom-bust line of 50.

Analysts also expect that manufacturing growth will also be affected in the coming months by restrictions on factory production in some areas and especially in heavy industries to reduce pollution. Moreover, output growth slowed to a modest pace. Members of the survey team said late delivery was mainly due to the shortage of raw materials.

"Manufacturing operating conditions improved in December, reinforcing the notion that economic growth has stabilized in 2017 and has even performed better than expected", Zhengsheng Zhong, an economist at CEBM Group, said in a statement accompanying Tuesday's release.

Commenting on the Nikkei India Manufacturing PMI data, Economist at IHS Markit, Aashna Dodhia, said: "The sector continues to face some turbulence as delayed customer payments contributed to greater volumes of outstanding work".



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