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03 November 2018, 05:58 | Kelvin Horton
Manufacturing growth slows in October - PMI
The construction sector activity in the United Kingdom economy grew at a faster pace than expected in October, a fresh report from Markit Economics showed on Friday.
"Aside from the demand-side impact of the SST, there were reports of general underlying market weakness hampering new business growth, which restricted the extent to which firms were passing through higher cost burdens to clients", he said.
Even with a mild sequential decline, manufacturing output in October remained strong, according to the monthly Manufacturing Report on Business, which was released by the Institute for Supply Management (ISM) today. New orders were the slowest since May.
Manufacturing sector growth in India gathered momentum in October as firms responded to stronger order inflows by scaling up production, input purchasing and employment.
The index fell to 51.1, where above 50 indicates growth, suggesting that activity in the sector slowed significantly last month. "The headline PMI dipped below the crucial 50.0 mark for the first time since July as cooling demand pressures, which eased to a notable extent on the month, weighed on the manufacturing sector", said IHS Markit economist Joe Hayes.
The industry moved up a gear in October, with growth of production, headcounts and input purchasing all gathering pace on the back of a robust and accelerated increase in new work. This was better than expected and up from a six-month low of 52.1 in September, when activity was dampened by a fall in confidence.
Prices data signaled another squeeze on operating margins as input costs continued to rise at a faster rate than output charges. "Third- and fourth-tier cities will continue to see faster consumption growth than metropolises". The sub-index fell to 46.9 from 48.0 in September.
More than 70 per cent of U.S. firms operating in southern China are considering delaying further investment there and moving some or all of their manufacturing to other countries as the trade war bites into profits, a business survey showed on Monday.
Rapid expansion was seen in industries including postal service, Internet software and telecommunications, where the readings were all above 59, the NBS said. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. Any unauthorised use, including but not limited to copying, distributing, transmitting or otherwise of any data appearing is not permitted without IHS Markit's prior consent.
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