Economy

Manufacturing Growth In India Picks In January; PMI Hits 8-Year High

Manufacturing Growth In India Picks In January; PMI Hits 8-Year High”

Mainland China markets reopened today for the first time since 23 January and we are seeing the Caixin/Markit Jan manufacturing PMI vs the previous 51.5.

Worryingly, the latest survey didn't reflect the outbreak of a rapidly spreading new coronavirus in China that has claimed scores of lives, disrupted travel and tourism across many countries and stoked fears of a broad hit to global growth.

Outbreak raises risk of shock to economy, more stimulus expected.

Export orders and employment slip back into contraction.

ZANYATOSTI January, the Russian manufacturers continued to cut jobs, but the rate of contraction was only slight.

Spain's manufacturing sector contracted for the eighth month in a row in January, although at a slower pace than in December and with the output falling at the weakest rate in eight months while business confidence improved, a survey showed on Monday.

More news: Hong Kong union calls strike to demand China border closure

The seasonally adjusted PMI rose to a nine-month high of 50.0 in January, identical to its no-change mark and above December's reading of 47.5, said a joint report from the IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), a Britain-based global procurement and supply organisation.

The Markit/Caixin Purchasing Managers' Index, which focus mostly on small and export-oriented businesses, eased to 51.1 in January, slightly down from 51.5 in December.

Limited improvement in domestic and foreign demand meant some manufacturers did not replenish stocks, said Zhong. In contrast, business confidence increased at the start of 2020, when the producers showed a higher level of positive sentiment concerning the prospects for production in the next 12 months.

Asia's fourth-biggest economy could also face more pressure in the coming months from China's coronavirus epidemic, which many analysts warn will be a drag on growth both in China and worldwide. Input prices rose at the fastest pace in six months, which panelists said was due to ongoing currency weakness, while output prices rose at a moderate pace.

Meanwhile, the China stock markets opened down almost 9% a the start of the day with 2,829 new cases of coronavirus were reported in China on Feb 2, total infection reaching 17,205.



Like this

loading...
loading...

Latest


03 February 2020
Jeff Bezos sued for defamation by girlfriend Lauren Sanchez's brother
He secretly provided my most personal information to the National Enquirer - a deep and unforgivable betrayal. In a statement provided by her lawyer, Terry Bird, Lauren Sanchez said, "Michael is my older brother".

03 February 2020
#LeakPeek: Nokia 5.2 will come with quad rear camera
Popular leakster Evan Blass has shared a couple of images of Nokia Captain America , which might be the Nokia 5.2. From the images, the phone appears to feature a large display with a slightly thick chin and a waterdrop notch.

03 February 2020
Red Sox could make decision on Mookie Betts trade soon
The 23-year-old hit.327 against left-handed pitching in 2019 and is an above-average outfielder. So the Red Sox have the ability to engage the Padres if the Dodgers try to lessen the return.

03 February 2020
Sonny Bill Williams makes losing Super League debut with Toronto Wolfpack
Toronto will play Castleford as part of Super League's first double header at Leeds' Emerald Headingley Stadium. They wanted to play me for 20 or 30 minutes, but I felt really good and it was a great atmosphere.

03 February 2020
USA stock futures rise while Chinese stocks slump amid coronavirus fears
A preliminary trade deal signed by the USA and China earlier in the month eased a big source of uncertainty in the markets. Futures for Japan's Nikkei were slightly higher but still about 500 points below where the index closed on Friday.

03 February 2020
Multiple victims after shooting on Greyhound off I-5
Photos from the scene showed the bus parked at a Valero gas station at the base of the Grapevine section of the freeway. Pennings says the bus driver got the shooter off the bus and and continued on to the next exit.

03 February 2020
Halsey Calls Out Fan Who Was Shouting "G-Eazy" at Miami Concert
Halsey and G-Eazy broke up in October 2018 after reportedly having somewhat of an on/off relationship. Fan footage of her blowing up at the fan has gone viral online.

03 February 2020
Brad Pitt's BAFTAs royal family joke resulted in some serious awkward laughter
Hearing Margot's candour and flawless minimal-faff delivery of Brad Pitt's speech is everything, truly. Brad Pitt made a joke about Prince Harry leaving the United Kingdom in his BAFTA acceptance speech.

03 February 2020
Health officials: Two people in Oklahoma test negative for coronavirus
The plane, which also carried six members, departed Wuhan before dawn on Wedneday before stopping to refuel in Anchorage, Alaska. The virus has also been detected in California, Washington, Arizona and IL , according to the CDC's website.

03 February 2020
Here’s what to expect from Friday’s weather forecast
Highs Tuesday and Wednesday will struggle to get out of the 20s, while only a few may see highs above freezing (32F). Monday night into Tuesday morning, a light mix of drizzle, freezing drizzle, or snow showers will be possible.