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nsucurrent.com January 21, 2018


Manufacturing sector shows record growth in December

02 January 2018, 11:16 | Colleen Roy

Manufacturing sector shows record growth in December

Manufacturing sector shows record growth in December

"At 54.7 in December, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) rose from 52.6 in November".

The rate of growth in new orders was the fastest since June 1998 as client demand improved, and new export orders also increased sharply. A result above 50 indicates an expansion in manufacturing activity while a result below that indicates a 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. "Although new order growth eased, firms continued to ramp up production and took on extra staff at a near-record pace, reflecting the success they have had in securing new work over recent months", associate director at IHS Andrew Harker said.




The World Bank last month raised its projection for China's gross domestic product (GDP) past year to 6.8%, up from its October estimate of 6.7%, citing support from strong exports and robust domestic household consumption. This was consistent with the strongest improvement in the health of the sector since December 2012. On the price front, Goods and Services Tax (GST) continued to lead to greater raw material costs, with input cost inflation accelerating to the sharpest since April.

The Nikkei Malaysia Manufacturing PMI said business conditions in the Malaysian manufacturingsector broadly stagnated in December, following an improvement in November. That said, the level of business confidence remained below the trend observed for the survey history.

"Early indicators for December show China's economy pushing into 2018 with growth steady, if unspectacular", said Tom Orlik in a research note, as "the official purchasing managers' indexes show the manufacturing sector slowing slightly and the non-manufacturing sector picking up, driven mainly by construction".



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