Chinas manufacturing growth unexpectedly accelerated in Aug
The Dollar Business Bureau China’s manufacturing industry growth is unexpectedly quickened in the month of August, indicating that the second largest economy of the world is still growing at a healthy rate in spite of cooling housing market and increasing financing cost. China’s official factory analyses showed that the Asia’s largest economy continue to be on a solid footing, despite apprehensions that the country’s growth may start fading in the coming months. The official Purchasing Managers’ Index (PMI), which is released on Thursday, increased to 51.7 in the month of August from 51.4 in July, beating expectations for a slight decline. According to a separate industry survey, the activity in steel sector accelerated at the fastest rate since April 2016 on the back of ...
Production expands at strongest rate in four months: HSBC Report
The Dollar Business Bureau India’s manufacturing PMI (Purchasing Manufacturing Index) is at a four-month high with a positive outlook for solid and quicker rise in incoming new work, said HSBC India Purchasing Managers’ Index. The upturn in the Indian manufacturing sector gathered pace in May, with levels of production and new orders rising at the fastest rates since the opening month of 2015. Meanwhile, a further increase in input costs was seen and, consequently, charges were raised following a decline seen in the preceding month. Up to a four-month high of 52.6 in May, from 51.3 in April, the seasonally adjusted HSBC India Purchasing Managers’ IndexTM (PMITM) signalled a further improvement in business conditions. Furthermore, gains were seen in all three monitored ...
