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UK Manufacturing Growth Improves More Than Forecast

01 Agosto 2017, 05:02 | Bibiana Flor

UK Manufacturing Growth Improves More Than Forecast

UK Manufacturing Growth Improves More Than Forecast

"Indonesia manufacturers reported another hard month in July, with ouput falling at an accelerated pace amid a drop in new business inflows", said Pollyanna De Lima, principal economist at IHS Markit, which compiles the survey.

Figures released by the the Office for National Statistics last week recorded a 0.5% drop in manufacturing output in the three months to June, largely blamed on a fall in vehicle production as factories readied themselves for new models. The Monetary Policy Committee, which voted 5-3 against raising interest rates in June, will announce their decision on August 3. The rise in outstanding business was solid and the strongest since April 2011. That said, price pressures remain marked, with a weak exchange rate and rising raw material prices noted. That exceeds the advance to 54.5 forecast by economists in a Bloomberg survey and is well above the 50 level dividing expansion from contraction.

The level of new orders received by Dutch manufacturers increased for the 17th month in a row.

The report said a fall in new orders due to underwhelming market demand was the primary cause behind lower sales.

Chinese goods producers in July were able to raise output prices the most since March, Tuesday's PMI showed, as input inflation also accelerated, though the price gains were much milder than those seen around the turn of the year. The rate of decline quickened slightly, but remained modest.

China's economy remained stable and on a positive track despite a seasonal fluctuation in the country's manufacturing activity in July, official data showed Monday. The latest increase was the slowest in 17 months. "This helped to bolster employment, which subsequently rose marginally for the second time in the past three months".

It was still the 12th straight month that factories reported expansion, according to the data compiled by the Federation of Logistics & Purchasing posted on China's official statistics website.

Crude futures rose above $50 a barrel for the first in two months, after US officials said sanctions on Venezuela's oil sector could be announced as early as Monday, in response to an election held on Sunday, which Washington has called a "sham".



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