Canada manufacturing growth cools in Aug, but employment jumps

02 September 2017, 12:25 | Andres Norman

Dollar up in Asia with China manufacturing top data bill

China official Manufacturing and Non-manufacturing PMIs(August) coming up today - preview

Rob Dobson, a director at IHS Markit, which compiles the survey, said: "At the moment, the survey data suggest that the manufacturing economy remains in good health despite Brexit uncertainty, and should help support ongoing growth in the economy in the third quarter".

IHS Markit said manufacturing output growth in August hit a seven-month high and new orders rose at the fastest pace in three months.

A private sector survey confirmed earlier data pointing to a pick-up in Chinese manufacturing in August, but some economists remained unconvinced about the staying power of the upturn. This was above consensus forecasts of 55.0, the strongest reading for four months and the second-highest reading in 3 years.

Combined, the findings of the official and private sector surveys suggested industrial output was resilient last month.

Other Asian electronics producers were also still riding high.

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A rebound in manufacturing sector bodes well for a higher GDP growth rate in the current July-September quarter. The move has slowed down India's business activity as they suffered from a severe cash squeeze.

China's leaders are counting on growth in services and consumption to rebalance their economic growth model from its heavy reliance on investment and exports.

Moody's Investors Service on Thursday maintained a stable outlook for the Indian banking system, noting the country's progress in managing legacy asset issues counteracting significant capital inadequacies some lenders continue to face.

United Kingdom manufacturing activity surged in August, according to data released by IHS Markit Friday, with sentiment among businesses across the industry hitting a three year peak during the recent month.

"The alignment of the stars continued for domestic manufacturing with the Ai Group Australian PMI indicating a very strong performance in August", said Ai Group CEO Innes Willox.



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