Sunday, 23 September, 2018

Manufacturing sector records record growth in December

Manufacturing sector records record growth in December Manufacturing sector records record growth in December
Elsie Buchanan | 02 January, 2018, 10:51

Spain's manufacturing sector expanded at a solid pace in December thanks to strong output and hiring, a survey showed on Tuesday, in the latest sign that economic growth throughout 2017 held steady until the end of the year.

The Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) contracted to 49.9 points in December 2017 as business conditions in the sector broadly stagnated. "Higher new orders encouraged firms to increase employment sharply", said Gabriella Dickens, an economist at IHS Markit.

Readings above 50 signal an expansion while readings below 50 signal a contraction.

New orders placed at Indian manufacturers rose for the second month in succession during December. In fact, job creation accelerated to the strongest since August 2012.

Purchasing activity was reported to have deteriorated in December at the strongest rate since September, due to subdued demand conditions.

New Mexico State wins Arizona Bowl in OT
New Mexico State set a school record with 41 sacks this season, including a record 11 against Idaho on November 25. Series Record: Utah State leads 30-7 between the former members of the WAC, Big West and Sun Belt conferences.


This is also the highest PMI in the last three months of October, November and December.

Finally, the Future Output Index signalled the strongest level of confidence in three months, with more than one-in-five survey participants forecasting higher production.

However, the sector continues to face some turbulence as delayed customer payments contributed to greater volumes of outstanding work. At the same time, stronger demand allowed firms to raise prices at the fastest pace in 10 months to make up for rising input costs, suggesting overall inflation could remain above the central bank's medium-term target of 4 per cent in the coming month.

Sentiment towards the 12-month business outlook picked up slightly from November's joint-record low, but remained well below the historical series average.

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