Greece Manufacturing Growth Strongest In 9 Years

Posted September 02, 2017

The Dutch factory activity grew at the fastest pace in six-and-a-half-years in August, survey data from IHS Markit showed Friday.

IHS Markit's Purchasing Managers' Index for manufacturing, which accounts for about a fifth of the German economy, rebounded to 59.3 in August - the third-highest reading since April 2011 - from July's five-month-low of 58.1. A reading above 50 indicates expansion.

Domestic demand was also strong, she said.

China's manufacturing sector remained in the expansion territory in August, fuelled by the strongest increase in new business for just over three years.

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ADP employment data for August estimated private-sector payrolls rose by 237,000 compared a consensus estimates of 185,000.

Taiwan's manufacturing survey saw the fastest growth in four months, while South Korea's exports beat expectations and posted their longest run of growth in nearly six years.

Caixin noted stricter environmental policies were a key factor leading to longer delivery times, whilst inflationary pressures intensified as input costs and output charges both rose at faster rates.

The final index for new orders was 51.9, well below the preliminary index of 52.7 and only slightly higher than a final 51.8 in July.

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The broad-based strength of August's manufacturing PMI survey adds weight to the assessment that the sector will put the disappointing first half to the year behind it, and will probably provide a decent boost to GDP growth in the second half of the year, Andrew Wishart, an economist at Capital Economics, said.

"Companies linked gains in new export work to increased business from mainland Europe, the USA, China and Australia".

Prime Minister Narendra Modi scrapped high value currency notes previous year in a bid to fight corruption and wipe out black money.

There was solid growth across the consumer, intermediate and investment goods sectors.

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The latest official data showed retail inflation rose 2.36 percent in July on an annual basis after easing for three consecutive months.