Manufacturing activity at four month low in June

Manufacturing activity at four month low in June”

"June rounded off a relatively strong quarter for manufacturers with the PMI average of 51.7 for Q1 FY 17 above the one seen in the previous quarter (51.2)". A reading above 50 indicates growth.

The indicator tallies with the government's purchasing managers' index (PMI) that also showed an improvement in factory conditions in June compared with May.

New orders expanded at the fastest pace in three months, boosting production and helping lift the PMI, Caixin said in a joint statement with data compiler IHS Markit.

Output across India's manufacturing economy rose for the sixth month in a row during June, which survey participants linked to ongoing increases in client demand.

Spreadex Analyst, Connor Campbell noted "The thrust of the United Kingdom index's growth stemmed from the commodity sector, itself boosted by the latest 0.5% jump from Brent Crude, the black stuff now trading at $49 per barrel for the first time in around a month". "Analysts are expecting the figure to slip slightly, from 56.7 to a 3 month low of 56.4, news that, if accurate, may take the edge off the pound". "Apart from some orders from the U.S. and Western Europe, exports fared little better as a continuing weak, but stable pound began to lose some of its allure". The survey also found that while most manufacturers forecast output growth in the coming 12 months, some companies felt that the implementation of the goods and services tax (GST) would have a negative impact on their businesses.

More news: Russell Westbrook's MVP Acceptance Speech Is Emotional & Awesome
More news: USA finds Canada softwood lumber dumped, sets preliminary duties
More news: Emirates Team New Zealand hold early advantage in Americas Cup

Manufacturing employment rose for the eleventh month running in June with jobs growth registered at small, medium and large-sized enterprises, although rates of expansion slowed in all three categories.

Manufacturing activity slowed to a four month low in June despite an increase in orders from overseas, a private survey showed on Monday.

Nevertheless, overall confidence did weaken to a 7-month low as uncertainty surrounding the political outlook and Brexit talks increased once again.

"While the survey data add to signs that the economy is likely to have shown stronger growth in the second quarter, further doubts are raised as to whether this performance can be sustained into the second half of the year".

Like this


04 July 2017
Saudi Arabia Demands Capitulation as Qatar Deadline Looms
On Monday morning it was announced that Riyadh and its allies extended by 48 hours the deadline for Qatar to accept their list of demands .

02 July 2017
Prosecutors drop state charges against juveniles accused of starting deadly Gatlinburg wildfires
Dunn's office thanked the hundreds of firefighters and police officers for the bravery and courage in fighting the fires. The juveniles are from Tennessee, but not Sevier County, where the fires spread, Dunn has said.

01 July 2017
Turkey denounces German officials opposed to Erdogan's G20 speech
He confirmed that Turkey had made an official request for Erdogan to hold a rally for Turks in Germany. Merkel will host a summit of the leaders of the Group of 20 economic powers in Hamburg on July 7-8.

30 June 2017
Treasury Department announces sanctions against Chinese bank
Treasury Secretary Steven Mnuchin announced that the US has sanctioned two Chinese citizens, a shipping company, and a bank. It cited a United Nations expert panel as saying the company has violated a ban on trade in luxury goods with the North.

28 June 2017
Demands on Qatar not negotiable, says Al-Jubeir
As chairman of the Foreign Relations Committee, Corker plays a central role in these sales. Qatar has denied all such claims.

27 June 2017
Apple's iOS 11 release date, features you should know
In this post , we'll run down five of the most sought-after iPhone features that Apple still hasn't addressed in iOS 11. Starting this year though, Apple has come up with a new product line referred to as the iMac Pro .

27 June 2017
Ansel Elgort kicks acting career into high gear with 'Baby Driver'
I think I had a cassette of " Orange " that I had copied off of someone else, maybe my brother. And then there's Bats ( Jamie Foxx ), a psychopath who settles any dispute with a bullet.

26 June 2017
Angel Di Maria receives prison sentence after admitting to tax fraud
They said Mourinho had already settled a previous claim relating to his Spanish taxes, which resulted in a penalty of €1.15 million in 2014.

24 June 2017
There Could Be A Link Between Car Wrecks And Marijuana
Colorado saw the biggest estimated increase in collision claims after retail marijuana sales began in Colorado. While the numbers are a safety concern, it may also have an impact on drivers' wallets in those states.

23 June 2017
Amazon shakes up retail with $13.7bn Whole Foods deal
In the $13.7 billion, all-cash deal, Amazon will buy the Texas-based champion of organic and specialty food for $42 a share. Kroger , the nation's biggest supermarket chain, had earlier warned Wall Street of disappointing earnings.