China Manufacturing PMI Jumps To 51.6 - Caixin

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After taking a hit due to the implementation of GST in July, the manufacturing sector in India bounced back in the month of August resuming growth in new orders, production, and employment, as per a survey on Friday morning.

The number comes after United Kingdom manufacturers saw an uptick in new orders within the domestic market while export orders also remained robust during the month.

A separate index measuring non-manufacturing activity fell for a second month, slipping to 53.4 from 54.5 previously, reflecting slowing momentum in China's services sector.

That echoed similarly robust official data on Thursday suggesting the industrial sector is continuing to prosper from a year-long, government-led building boom.

The final index for new orders was 51.9, well below the preliminary index of 52.7 and only slightly higher than a final 51.8 in July. "Business confidence also rose to one of its highest levels in over a year".

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On the price front, survey showed that input price inflation ticked up for the first time in six months.

Output in Britain's manufacturing industry unexpectedly pushed to a four-month high in August thanks to a jump in new work.

Further, data showed that business optimism improved to a three-month high driven by rising demand, new product launches, efforts to improve market share, stronger global economy and planned investment spending.

Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said: "The pick up in the PMI brings tentative hope that the recent decline in the official manufacturing output data will be reversed swiftly".

"The key question is whether this positive start to the second half of the year can be sustained", said Rob Dobson, director at IHS Markit. The rate of job creation was the highest in three years. "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".

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